being in a very strong downtrend since the spark of 2016 and just recently breaking out of a consolidation phase with continued momentum to the downside we are only interested in playing this pair to the downside. We will consider taking a short position if we see price action break below and close below this short-term blue up trend line
on the hourly chart. We will also need to see confluence from our price action forecasting algorithm predicting a move to the downside with a chance performance prediction rate of 85% or higher.
Currently our algorithm is predicting a bit of a move higher with a chance performance prediction rate of 62% but this will update every hour on the hour. So we will continue to monitor price action and our algorithm to see if we get a signal update!
See the link below for our latest algorithm forecast: