The joy of the buyers was short-lived. The rise turned out to be corrective with minor advancement. Currently, we are witnessing the collapse of the buyers’ efforts. The price has closely approached the previously set minimum with a clear intention to update it.

It seems that we are not dealing with a simple corrective zigzag, but a full-fledged downward impulse, even extending in wave 3. If this is indeed the case, we might soon see a significant decrease in price as part of the development of wave 3 of 3.

Given this, it is advisable to switch from a bullish to a bearish sentiment and try selling.

Recommendations: Sell at 1.0610, SL at 1.0635, TP at 1.0500.