Prices completed a long down trend wave cycle to see a potential reversal after breaking above the 1.07835 level. Prices are currently trading above the 200 daily moving average which shifts our bias to bullish
on this currency pair. We must now wait for a close above the 1.09108 (2nd green line) before we could trigger a long trade. That would ensure that this is not a false breakout and we will target prices to reach wave 3, then retrace to wave 4 to re-test the 2014 major resistance a the round number of 1.1300. Keep trading simple.
This is a long term trade, that might take up to months.