The euro is trying to build on its success and further strengthen its position. At the same time, the price remains in a downtrend and any pressure from the dollar may lead to another renewal of the lows.

However, the situation looks like that the downward movement, which took an impulsive form, is over. The observed growth is the beginning of a new upward cycle. Breakdown and consolidation of the price above the marked horizontal level will confirm this assumption.

Conclusion of buy trades in this regard is recommended when this scenario is realised.

Recommendations: Buy 1.0615, SL 1.0580, TP 1.0800.