Bears confidently posted a new low of the structure yesterday and they quite allow the market to correct the prices substantially to the upside before probable continuation of mid-term decline.
There are premises for such correction: we see, that euro is being traded inside the yesterday’s range (inside bar) and if the day closes in this way, this might become quite a strong buy signal and, correspondingly, a signal for new upswing start.
Local downward structure is forming a corrective upswing. Optimal height of pullback is the pivot-level 1.1313.
This quite works with scenario of daily inside bar forming with the probable high at the 1.1329 handle.
So, we expect growth of the quotes in direction of the 1.1313-1.1329 area.
Longs towards 1.1313-1.1329.
Seeking for probable short-signals at the 1.1313-1.1329.