The pair can grow.
On the 4-hour chart, the fifth wave v of 1 is developing as a diagonal triangle. Now the local correction (iv) of v has formed. If the assumption is correct, the development of the wave (v) of v begins, within which the pair will grow to the levels of 1.0070–1.0115. The level of 0.9865 is critical and stop-loss for this scenario.
Main scenario
Long positions will become relevant during the correction, above the level of 0.9865 with the targets at 1.0070–1.0115. Implementation period: 5–7 days.
Alternative scenario
The breakdown and the consolidation of the price below the level of 0.9865 will let the pair go down to the levels of 0.9745–0.9670.
Trade
Scenario
Timeframe Weekly
Recommendation BUY
Entry Point 0.9924
Take Profit 1.0070, 1.0115
Stop Loss 0.9865
Key Levels 0.9670, 0.9745, 0.9865, 1.0070, 1.0115
Alternative scenario
Recommendation SELL STOP
Entry Point 0.9860
Take Profit 0.9745, 0.9670
Stop Loss 0.9900
Key Levels 0.9670, 0.9745, 0.9865, 1.0070, 1.0115
On the 4-hour chart, the fifth wave v of 1 is developing as a diagonal triangle. Now the local correction (iv) of v has formed. If the assumption is correct, the development of the wave (v) of v begins, within which the pair will grow to the levels of 1.0070–1.0115. The level of 0.9865 is critical and stop-loss for this scenario.
Main scenario
Long positions will become relevant during the correction, above the level of 0.9865 with the targets at 1.0070–1.0115. Implementation period: 5–7 days.
Alternative scenario
The breakdown and the consolidation of the price below the level of 0.9865 will let the pair go down to the levels of 0.9745–0.9670.
Trade
Scenario
Timeframe Weekly
Recommendation BUY
Entry Point 0.9924
Take Profit 1.0070, 1.0115
Stop Loss 0.9865
Key Levels 0.9670, 0.9745, 0.9865, 1.0070, 1.0115
Alternative scenario
Recommendation SELL STOP
Entry Point 0.9860
Take Profit 0.9745, 0.9670
Stop Loss 0.9900
Key Levels 0.9670, 0.9745, 0.9865, 1.0070, 1.0115