A falling Wedge breakout on the upside is witnessed on the Daily time frame in EUR/CNH. 14th November closing with a strong bullish candle is indicating buyers are keen to buy the pair at the current market price.

The price is trading above Slow and Fast EMA indicating a positive trend. On the momentum front RSI is supporting the price action confirming the trend.

On the directional front, DI+ is trading above DI- indicating a positive trend whereas ADX trading above DI- is indicating strength in the upside move.

Falling Wedge breakout on the upside

Nov 15 2023