The count shown here suggests that the decline from 1.3068 is complete. Under this interpretation, the rally from 1.0780 and subsequent decline composes waves 1 and 2 (or A and b). The decline is deep, but second wave declines tend to be sharp. The minimum objective is above 1.1730 but entering near current price would enable traders to move the stop to breakeven on a rally above 1.1200 (wave 4 of C extreme).
