As the upward movement continued, problems began to surface. Apparently, buyers decided they had created a convincing enough bullish impulse and took the opportunity to pause. Their opponents quickly seized on this and began to push the price downward in a rather chaotic manner. It is likely that a large downward correction is underway, driven by the formation of wave 4.

If this scenario proves correct, we can expect a strong decline in the near future, with occasional attempts by the euro to fight back and shift the situation in its favor.

In this context, it’s advisable to wait for a minor corrective pullback upward to around 1.1020 before considering selling.

Recommendation: SELL at 1.1020, SL at 1.1055, TP at 1.0800.