The Pair has formed a Rounding bottom on an hourly time frame. A breakout from the rounding pattern would be an opportunity to enter long in the currency pair.

The Price is trading above the Fast (27) and Slow (50) EMA indicating a bullish trend. Ema are yet to trend positive, Ema's trending will add strong confirmation to the trend.

DI+ is trading above Di- indicating a positive trend whereas ADX is yet to confirm the strength.

Advice : Go Long if the pair is able to close above the neckline.

Rounding Bottom

Jul 28 2023