The wave scenario that suggested the end of the upward impulse with the shortest wave 5 in the form of a terminal diagonal triangle seems to have been correct. After the completion of this entire pattern, the price retraced downward, then tried to recover, but ultimately a strong collapse occurred.

The euro exchange rate against the dollar dropped significantly. At the moment, this entire movement is considered a correction in the form of a double zigzag. The first zigzag has formed, and a correction within a certain price range is expected in the near future, with the schematic trajectory of the price movement indicated in the chart above.

The downward movement will continue. While the euro attempts to provide an adequate response to the recent decline, trading in this pair is not recommended.

Recommendations: Flat.