Euro dollar is currently in the midst of a corrective wave to the downside. There was an impulse sell as you can see in the end of the chart, which concludes that we are in a correction.
A large flat correction wave appears to be complete and the beginnings of the next bullish impulse wave is underway. The correction wave in this Elliot wave set up would be the 2 wave. The strategy is to wait for the correction to retrace at least 38% but preferably 61.8% of the previous impulsive wave. Buying by laddering into the position is the most aggressive...