Corrective downswing was nascent yesterday. Today supposedly it’s going to be continued, since it’s not completed yet. Thus we can expect testing of the support area 1.1173-1.1182 by the market (watch the yellow marks), from where a new upward movement may run, since earlier the structure has lost the mid-term downward status.
Local structure has the shape of mid-term downtrend having completed besides forming of corrective upswing. Thus decline of the euro quotes can be continued from current levels in direction of 1.1173-1.1182 zone.
We expect decline in direction 1.1173-1.1182 and then start of new upswing.
Shorts towards 1.1173-1.1182.
Longs from the 1.1173-1.1182 zone.