Should be at completion point of wave 4. Support was given at end of last session to the 144 EMA plus the price is at/near the .382 of the larger move(wave 1 through 3) and the .5 of wave 3.
Im expecting an open higher then the gap to be closed and then the long move will begin.
If this pair continues south(short) and breaks the wave 1 high, i will recalculate ...
Wave c on Wave (2). This could turn into a zigzag but im expecting a nice bounce back up off the current channel bottom right around the .382 of wave (1). There is also some old support between the same .382 and .5 fib levels.
The macd and rsi are positioning them selves for a move back up also.