The Currency Pair is trading in a range. The Pair corrected a bit and then it started to trade in a Range. Still the pair is trading in a range. Many Indicators are suggesting a breakout on the upside but the price has not yet confirmed that strength in the move. Crossover is seen on the currency pair (Fast Moving Average Crossing Slow Moving Average). MACD has shown the crossover below 0 and is expecting to trade higher. RSI has changed the move from 30.

The Currency has to trade above the rectangle pattern for a breakout. If the pair closes above the rectangle and all the indicators are following the price we can expect the pair to make a new high.

If the Pair is not able to close above the rectangle, avoid entering on the sell side, trading in a range won't be recommended, if a shortfall is seen then the loss will be high.

Trade Only if breakout is seen on either side.If the breakout is seen on a negative site see for crossover in MACD and EMA.

Advice : Wait for Breakout Opportunity is close

Rectangle Pattern

Aug 04 2021

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