A Double Bottom pattern has been seen in the currency pair. A Double Bottom Pattern is a reversal pattern. A breakout from a pattern can be a good opportunity to enter long in the pair. An eve and eve in double bottom is one of the best trading patterns. In our case an Adam and Eve Pattern is formed. An Adam and Eve pattern is better than an Adam and Adam pattern.

The pair has taken support at the 50 day EMA. We will be advised to buy the Index at cmp. The RSI is following the price and we expect the same in the coming day. If the RSI trading above 83 we would suggest to exit the position.

ASX200

Jan 30 2022