After finding ourselves in a very congested market, we can see that we have failed to break higher than a daily swing level of 1.08663. After closing on a bearish rejection candle on the daily time frame we can look forecast that this pair may find its way back to the bottom of the preivious range around 1.07300. This could be a good oppertunity to gain 3-4% on your trading account with proper risk management.
In order to enter this trade, i will look for further weakness on the 4hr time frame around 1.08404 and look to ride this market to a profit target of 1.07350 and a stop loss of 1.08683.
Good luck on the charts :)