The chart shows the movement started from 1.4304 (6 March). I think that it is impulsive in nature and we have 5 completed waves down. If this is the case, one should expect at least corrective recovery with minimum requirement 1.3900. A key support is today€™s low 1.3654 and in a case of a fall below it, I will look for an alternative count. With an eye on the possibility for a short term recovery I entered long earlier today.

Trading strategy: 03:18 EST; 08:18 GMT

Buy at market (1.3758), stop loss - 1.3650, target - 1.3900

This analysis has only informational and educational purpose and does not represent a proposal for buying or selling currency contracts