Being highly correlated to AUDUSD
has also been in quite the uptrend. It appears to be a bit more choppy and indecisive as compared to AUDUSD
, but overall it is very bullish
. We are looking to play a potential long on this pair if we see price action break above and close above the current trend-line resistance on the hourly chart in confluence with a prediction of a move to the upside from our forecasting algorithm with a percentage chance prediction of at least 85%. In addition we would like to see retail sentiment move to -1.50% or more as it is currently +1.15%. The occurrence of all three of these conditions at the same time will present a very high probably set up for us to get long so make sure you are following to receive updates if we end up taking this long.
Our proprietary algorithm is currently predicting a move to the upside once breaking out of the trend-line resistance with a forecasting prediction of 83%, as seen in the photo below. This is setting up quite nicely and we will monitor the set up to see if we get an official signal. Make sure you are following to be updated!
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