Reason for the trading strategy (technically):
Price have been testing our descending resistance line multiple times yesterday and is seeing strong support above 1.3309 ( , , horizontal overlap support). We expect to see a strong bounce above this level to push price up to at least 1.3522 resistance ( , horizontal swing high resistance). We have to watch out for the descending line which would pose as intermediate resistance to this move.
(55,3,1) is starting to make a exit from its descending resistance-turned-support line and this could trigger a strong corresponding rise up in price.