I think right now we have hit a dip in the market which provides a perfect opportunity. I think yesterday we were seeing the pair being massively overvalued due to a lot of buying volume which we saw in the RSI indicator which was peaking above 80. Over the last few house we have seen the RSI calm down and we have also seen a dip in the market. I said in my previous analysis that we need to watch out for the 110.460 price as that has been a key point of resistance in the past. We saw the price just about that price which is why I think we have seen this dip, most likely due to trading fear and also the fact that It was at the top of the regression trend. Over the last hour or two we have seen the price fall out of that trendline however I don't think we will experience a trend breakout anytime soon. At this moment I think that the market is just testing the water and I stills strongly believe that the price will continue to rise. As you can see now in this hour we have seen a big move upwards with this candle closing above 4 of the negative candles which tells me that the price will continue rising. Like I said yesterday the main task for this pair right now is to push through that Key resistance level and then onto 110.500 and above. I think also that the price moving above the moving average line on the one hour chart will give it some momentum to carry on moving upwards.