has been making consistent moves to the downside over the past month or so and for that reason we are only looking to play this pair to the downside. With that being said we are viewing this recent move to the upside as a corrective pull-back of the overall trend and therefore we would like to see price action stall out and then continue to the downside. We would like to see price action break below and close below this blue short term up trend to give us a signal to go short, however we will also need to see confluence from our forecasting algorithm predicting a move to the downside with a chance performance prediction rate of 85% or higher.
Currently our algorithm is predicting continued movement to the upside with a chance performance prediction rate of 90%, however this forecast will update every hour on the hour. We will continue to monitor price action and algorithm updates to see if we get the signal to go short.
See below for the current forecast from our algorithm:
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