The situation with the pair is unfolding within the previously discussed wave scenario. The upward movement that has formed is likely impulsive in nature and represents the initial wave of a higher-level bullish impulse. The current decline appears to be a correction, which is expected to take the form of a simple zigzag. Its development will likely take some more time, so any significant price movement in the next trading day is unlikely.

For this reason, it is not recommended to open any trading positions at this time. It would be prudent to wait until the correction is complete and only then start buying with the aim of capturing the movement in the third impulse wave.

Recommendations: Flat.