Nothing noteworthy happened in the final trading day for the pair. The euro tried hard to strengthen its position, but unsuccessfully — sellers proved stronger at the local high.

However, the pullback is unlikely to discourage buyers, as the decline may simply be an opportunity to gain momentum and push higher. At least, the current wave scenario suggests such a development.

The rise is forming as part of an upward impulse, representing wave 1 of a larger movement. Additionally, the third wave is likely extending, which explains the frequent jumps and corrections on the chart.

Thus, in this situation, buying looks quite promising.

Recommendations: BUY 1.1620, SL 1.1600, TP 1.1700