The euro remains under pressure, but the expected acceleration to the downside has not yet materialized. However, we are now observing price compression toward a local low. There is a high probability that the start of the new trading week will favor sellers.

The expected decline will likely be part of a downward correction, more specifically wave 4 within a presumed initial diagonal triangle. The target for this projected move lies along the dotted trendline. The potential looks quite attractive, and it may be worth trying to participate in this move.

Recommendations: SELL 1.1700, SL 1.1725, TP 1.1600.