The Pair has formed Double Top at the high. Double Top is a reversal pattern, a breakout on the downside would be an opportunity to enter short in the currency. The Pair is trading above the short and long EMA indicating positive trend; as per EMA studies price trading below the EMA's is one of the best trading strategies in trending markets, as the pair closes below the support selling can be done in the pair. A crossover is also seen in the EMA indicating a negative trend.

Advice : Sell if the pair closes below the support.

Double Top Formation

Nov 30 2022