It appears that the market has fully completed a corrective decline, forming a double zigzag. Immediately afterward, an impulsive upward move began, which is likely wave 1 of a newly emerging impulse. There is also a high probability that corrective wave 2 has ended.

Thus, in the near term, we may see a strong upward movement driven by the development of wave 3. In this scenario, buy trades are recommended on a breakout above the 1.1220 level.

The minimum target of the expected upward movement lies at the previously established price high at 1.1570.

Recommendations: BUY 1.1220, SL 1.1140, TP 1.1570.