Falling Wedge breakout on the upside

Launch Chart
KUNAL KAMBLE
EURCNH
·
Nov 15 2023
snapshot
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.