The current situation continues to be seen as a downward correction, which still has potential for further development. An aggressive attempt by buyers to influence the market failed, indicating a high probability of a price decline.

We may see the formation of a more distinct downward impulsive movement, so traders should be prepared to enter short positions. This can be done by waiting for a breakout and renewal of the current local low at 1.1290 or by selling at current market levels.

Recommendation: SELL 1.1290, SL 1.1350, TP 1.1000.