The Index has formed a Flag And Pole Pattern. 

A Flag and Pole  is a continuation pattern. 

The Index is trading negative and a small retracement is seen on the upside. A breakout is expected to be on the downside.

The pair breaking downside will be an opportunity to enter short in the pair.

Currently the pair is trading below the EMA's indicating a downtrend, a breakout on the downside would be a strong confirmation to sell.

Advice : Trade as per breakout, expecting breakout on the downside.