The last week we saw the pair didn´t have the enough strong to break the 1.10736 resistance so we continue the downtrend.
If we assume this, the impulse counts with 5 waves and we can define the actual moment inside the 5th wave.
Inside the 5th wave, in the 4h chart, we need to complete the space to the 1.1 level. A rejection of this level offers a good entry to long the pair:
Entry =1.1
SL= 0.99710 ( 22 pips)
TP one= 1.10375 (44 pips)
TP two= 1.10736 (80 pips)
If we assume this, the impulse counts with 5 waves and we can define the actual moment inside the 5th wave.
Inside the 5th wave, in the 4h chart, we need to complete the space to the 1.1 level. A rejection of this level offers a good entry to long the pair:
Entry =1.1
SL= 0.99710 ( 22 pips)
TP one= 1.10375 (44 pips)
TP two= 1.10736 (80 pips)