The dollar has significantly weakened, allowing its counterparts to gain impulsively. The current wave pattern resembles the formation of an extending third wave of an upward impulse, although a decline is occurring at the moment. This is likely due to the development of corrective wave 4. A critical level is marked on the chart, and a breakout and consolidation below this level would invalidate the current wave structure.

In the near future, a slight downward movement is expected, bringing the price close to the critical level. This will complete the formation of wave 4, after which another wave of impulsive growth is expected to complete the development of the entire extending wave 3.

Therefore, it is recommended to wait for the start of the upward movement and consider buying.

Recommendations: Buy at 1.1065, SL at 1.1035, TP at 1.1200.