Yesterday, the euro declined by 68 pips, reaching the target range of 1.0449�1.0483. This movement is sufficient to set the stage for a market correction after the decline since August 25, as convergence with the oscillator is now in place. The nearest corrective level at 23.6% aligns with the target level 1.0636.

At the same time, the target range of 1.0385�1.0418, formed by two price channel lines on the weekly chart, remains untested. If the price reaches the red line of the descending price channel, a reversal could occur from 1.0418, preserving the already-formed convergence.

Significant developments will likely take place next week.

On the four-hour chart, the overall trend remains bearish. Key signals come from target levels: Consolidation above 1.0483 could start a corrective consolidation, paving the way for further growth. A decline below 1.0449 would allow the price to test the stronger support at 1.0418. This action would also widen the expected consolidation range to approximately 1.0418�1.0490.