The final trading day of the past week was very active for the considered trading pair. The euro significantly rose against the dollar, covering the distance of a two-week correction in just one day.

It is possible that this surge in buyer activity is due to the beginning of the formation of wave 3 in the upward impulse. However, it often happens that after a strong move, there is a reversal, and the price either immediately falls back to the starting point or does so gradually.

This should be kept in mind. For now, it is worth at least partially closing previously opened long positions. In the near future, there is a high likelihood of a counter-reaction from sellers, which will put significant pressure on the price that buyers may not be able to withstand.

Recommendations: Flat.