This formed a bigger picture for the EURO .
The intermediate highlighted has a lot of PA in the area, so it may only hold through one retracement back to the level.
The next time price gets to the bigger picture , it will be the first pullback which may form a new intermediate within. I do not suggest trading the first pullback until a base forms and prices head out again. But that's just me.
The initial rally may be limited to intermediate above. Reversals usually have hiccups at the start.
Price may then drop back into the zone to test new zone. This may see a rally to the highlighted @ ~1.13584.