On Monday, the euro broke down an important level of 1.1285 and closed the day below the range limit.

This is an important technical signal at the beginning of a big trend downwards.

However, while such an option is possible: the signal may turn out to be false - the price has passed too short a distance in the direction of a breakthrough - and there is an option of a reversal upwards.

We keep selling from 1.1285 and look forward to a continuation of the downward movement.

In the event of a full reversal, we are ready to buy the euro not closer than 1.1515.