The Price move above 121.000-120800 Area (Support)
According to the Last Big up Move from 119.900 to 122.800 is a principal Wave and the dwon move from 122.800 to 121.080 is a corrective wave
Any Closing below 120.800 it cancel this scénario
in a high Time frame Daily or Weekly , When a Price make a pullback from a Major Level, you should wait a re test for a second times on law time frame
if you see that trend on chart is up and on indicator is down that's mean a divergence
you should place your First TP on the first Support on law time frame.and finaly you need to place your Stop Loss above 20...
The General Trend is Dwon , So all the privious Up move is just a Corrective Wave , So This Pair move into a Channel , and his Up line as a Mobile Resistance Already Testing Five Times by the price.
Aslo We Can see that Divergence is Clearly showing in RSI Indicator and by Last three Highs
According to Fibo Retracement , We say that is the End of Retracement.
We have a double bottom as Reversal pattern, Actualy Price was already Re test The Broken Neckline ,spending with a Price Action
The Last Candle was retracement 50-80% of Price Action
So We can enter Buy with 119.500 as Stop loss or with my favorite Mobile SL is Closing Daily Below 119.500