In order for us to execute a short position on this pair we will need to see price action break below this blue short-term up that is acting as support. We will also see confluence from our proprietary price action forecasting algorithm that supports a move to the downside with a chance performance prediction of 85% or higher. If we do break-out to the downside we can expect to see it move with some strong momentum that we can enter in on.
Currently our algorithm is forecasting some consolidation, then a sharp move up, followed by a quick reversal to the downside with a chance performance prediction of 88%, however we will continue to monitor price action and the forecast updates from the algorithm. Please see the image below for the current forecast on this pair.
If you want to receive accurate forex signals like this one check out http://www.Unique4xPro.com and get one FREE month of our algorithmic signals!
Also follow us on all of our social media:
Twitter @ Unique4xPro
Snapchat @ Unique4xPro
Instagram @ Unique4xPro