The situation with the pair is developing according to the expected scenario. The price managed to rise and update the local high, but it failed to reach the maximum set by the presumed wave 1. Pressure from the dollar began, and the price moved sharply downwards.

It is likely that this marks the beginning of a correction within the emerging wave 3 of [iii]. In this case, we can expect a small sideways movement in the near future, followed by a rapid, impulsive upward move. The possible movement trajectory is indicated on the provided chart.

While the price remains within the development of the correction, it is not recommended to take any trading actions.

Recommendations: Flat.