The last trading day of the past week went exactly as expected. Buyers lacked the strength for further recovery after a sharp decline, which led to a swift return of the rate to the previously set low. Here, opposing forces will likely call a temporary truce, and volatility will decrease sharply.

After holding at this level for a while, the price is expected to head downward again. This is driven by the formation of a downward impulsive movement, suggesting the development of wave 3, which will likely extend, resulting in a prolonged decline.

In this case, trades should be opened when the price updates and consolidates below the current low.

Recommendation: Sell at 1.0680, SL at 1.0710, TP at 1.0500.