The sellers’ attempt to break through the trend line was unsuccessful and the price ended up staying within the limits of the previously formed correction. A directional move is postponed for this early trading week. It is anticipated that the sellers will still be able to push the Euro down and the price will rally. The movement is expected to be a part of a retracement, which will be a zigzag and will become a part of a double three, or more precisely, a Y wave.

Breaking and fixation of the price below the trend line is still a signal for a sell trade. The downside targets lie near the minimum established by the anticipated wave w.

Recommendations: Sell 1.0960, SL 1.0985, TP 1.0500.