The euro remains under pressure. Overall, this supports the current wave scenario, although some temporary relief is needed. Price needs to move up and test the upper boundary of the channel within which the decline is unfolding.

This decline is viewed as a corrective wave. At this stage, wave b of a zigzag is likely forming. If this scenario is correct, buyers may dominate at the start of the new trading week, pushing the price higher toward the upper boundary of the channel.

After that, the decline is expected to resume as part of wave c development.

In this context, cautious buy positions can be considered at the opening of the new trading session.

Recommendations: BUY 1.1600, SL 1.1585, TP 1.1645