The pair has formed Descending triangle. Descending Breakout on the upside has a higher success ratio compared to the downside.

The price has taken support at Fast and Slow EMA indicating strong support at current level. Price breakout on the upside with a Fast and Slow EMA trading upside will be a strong confirmation to enter long and vice-versa for short.

RSI has given a breakout on the upside and retracement has been observed towards the falling trendline. RSI trading above the current high would recommend a strong buy.

DI+ is trading above DI- with ADX trading above DI- suggesting strength on the upside move.

Advice : Trade as per Breakout expecting breakout upside.

Descending Triangle Formed at Lower Level

Mar 03 2023