The past trading week turned out to be quite good for the euro. The exchange rate grew well, approaching the local maximum. It seemed that the price would make an attempt to break above, but instead we got an unpleasant downward movement. And now it is not very clear what the market wanted to say.

Perhaps, the upward impulse, which started in late September, ended in a truncated wave v and then the current decline is the beginning of a deep correction, or even a downward impulse.

Then there is a need to wait for confirmation of the seriousness of the price intentions to go further down. In the near future there may be a corrective pullback upwards, after which the price will resume its impulsive decline again.

Thus, it is recommended to wait for the appearance of a local minimum, which will later become a level for a possible entry into sell trades.

Recommendations: flat.