Good evening guys, On the daily time frame we broke and retested the trend line
but price action failed to continue to the downside. We are also just off a physiological level at 111.000 which has acted as multiple support, also we are about to reach the 50EMA. On the 4 hour time frame we are creating a double bottom
leading to W formation. With the 20 and 50 EMA
at the bottom of that i believe it creates a perfect opportunity to go long on this position.