We will continue to hold this long bias until we significantly close below .74.
In order for us to get a signal to go long on this pair we will need to see price action break above and close above the red short-term that is acting as resistance on the hourly chart. We will also need to see confluence from our price action forecasting algorithm predicting a move higher with a percentage of 85% or higher.
Currently our algorithm is predicting a continued move to the downside, but then sharply reversing to the upside with a forecast predicting chance of 87%.. we will continue to monitor price action and our algorithm for forecast updates and will notify you if we execute a long position. See the below image for our algorithm's forecast for this pair.
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