The situation is fully developing within the current wave scenario. It seems that the past trading week has completed the formation of a downward impulse, which also serves as wave C of a zigzag pattern. One indirect sign of a potential reversal is the formation of long wicks at the very end of wave 5’s development.

The structure also fits well within a five-wave framework. Thus, there are solid grounds to anticipate a reversal in price movement. The Euro may see a significant rise in value, making it worth considering buy positions at current market levels.

Recommendations: Buy at 1.0440, SL at 1.0415, TP at 1.0630.