Buyers decided to continue their upward movement, but when they were trying to update the local maximum, they met fierce resistance from their opponents. The confrontation ultimately ended with victory for sellers, which led to a sharp decline in prices.

But the matter is unlikely to end there. Probably, in the near future we will see the continuation of the pair’s decline. This is due to the expected development of wave [2], a possibly forming upward impulse.

Investment idea: sell 1.2020, stop loss 1.2050, take profit 1.1850.