Euro fails to hold above critical level. The euro failed to stay above the critical level, which passes through the previously established local low. The price dropped sharply, canceling the previously considered wave scenario and forcing a reassessment.

The updated scenario may have an impulsive nature. The decline that began at the end of January is likely to end soon. This movement fits well within an impulsive framework, which includes an extension in wave iii.

Currently, the final wave v is forming, which may continue for a while by inertia.

For this reason, it is not recommended to rush into opening buy trades at current market prices. It is better to wait for the formation of waves 1-2 and observe the market development.

Recommendation: FLAT