Please see original analysis linked below for in-depth explanation of our long bias.
We are still awaiting a break above and close above this red short-term down on the hourly chart to execute a long position on this pair. We will also need to see confluence from our price action forecasting algorithm forecasting a move to the upside with a chance prediction of 85% or higher. Currently our algorithm is predicting a break out and a strong move to the upside with a chance prediction of 84%, we will continue to monitor price action and the updates from our algorithm to see if we get an official long signal on this pair.
See the link below for an image of our algorithm's forecast for this pair.
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