The market has presented an unpleasant surprise, consisting in the next decline in the euro. As a result, the local minimum was slightly updated, and the previously proposed wave scenario required some amendments.

It is possible that wave (y) still takes a normal length in relation to wave (w), not a truncated version. Then in the future we are expecting the continuation of the decline in the pair within the formation of the impulse in wave [c] of (y).

Investment idea: sell 1.1710, stop loss 1.1730, take profit 1.1550.