Apparently, the rise that was considered the beginning of an impulsive move is just a correction, forming a simple zigzag. This pattern developed within an ascending channel, and in the final trading day of last week, the lower boundary was broken and closed beyond it.

This may be a sign of the start of another bearish wave. For this reason, the wave count has undergone some changes. We may soon see an impulsive decline during which wave III of a major downward impulse will develop.

Therefore, it is worth considering taking sell trades at current market prices.

Recommendations: SELL 1.1500, SL 1.1545, TP 1.1300