So, downswing has reached potential demand area (1.1090-1.1100), where a zone of recommended entry to the upside resides within O&U pattern. Thus a start of new upswing may take place from current levels.
Local downward structure got a very small-scale corrective swing suggesting a probability of current low (1.1091) renewal. Thus buyers may “catch” potential long signals at 1.1070-1.1080.
Main scenario: Decline to the 1.1070-1.1080 zone and following upward reversal toward 1.1130.
Alternative scenario: Growth from current levels in direction 1.1155-1.1175.
Seeking for local buy signals at 1.1070-1.1080.