The euro remains in a phase of correction within its short-term uptrend. Yesterday, the price approached a critical support range between 1.0897 and 1.0888. Today, it's anticipated that sellers will attempt to test this support zone once again. Following this test, market observers expect a specific pattern to emerge, potentially signaling an opportunity to initiate a long trade with a target set at the high reached on March 8th.
However, if the support zone is breached downward during trading sessions, it indicates a continuation of the correction phase. In such a scenario, the next target for the price decline would be the support range between 1.0855 and 1.0842. This support level acts as a boundary for the prevailing trend. Consequently, there's a possibility to consider initiating long positions at this level as well, given its significance in defining the trend's parameters.