The euro is afraid to take the lead against the dollar and barely made a new high this year, when its value went down sharply. It is unlikely to be a small correction before a further rise; it is more likely that the move down will be quite prolonged.

For now, it can be seen as the beginning of the development of the y-wave in a possible double zigzag. Then we are in for a decline in a simple zigzag, impulse-correction-impulse.

Instead of buying, there is a need to consider sell trades.

Recommendations: Sell 1.0970, SL 1.0990, TP 1.0750.