The situation for buyers is becoming critical. To sustain the upward movement, urgent and significant measures are required — otherwise, the price risks falling below a key level. A break of this level would cancel the impulsive nature of the current upward move, turning it into a simple zigzag.
At the moment, there remains a small chance for the price to start rising again. For this to happen, the euro needs to use the lower boundary of the ascending channel. This level may mark the completion of corrective wave 4.
Now it remains to observe how the price behaves next. If a rebound occurs, it will be possible to consider entering buy trades.
Investment idea: BUY 1.1665, SL 1.1635, TP 1.1740.
Origin: FreshForex
