The pair can grow.
On the 4-hour chart, the upward correction is developing as a wave 2 of (3) of the higher level. Now the wave c of 2 is forming, within which the fifth wave of the lower level (v) of c is forming. If the assumption is correct, the pair will grow to the level of 0.9710. The level of 0.9534 is critical for this scenario.
Main scenario
Long positions will become relevant during the correction, above the level of 0.9534 with the target at 0.9710.
Alternative scenario
The breakdown and the consolidation of the price below the level of 0.9534 will let the pair go down to the level of 0.9180.
Scenario
Timeframe Intraday
Recommendation BUY
Entry Point 0.9629
Take Profit 0.9710
Stop Loss 0.9570
Key Levels 0.9180, 0.9534, 0.9710
Alternative scenario
Recommendation SELL STOP
Entry Point 0.9530
Take Profit 0.9180
Stop Loss 0.9645
Key Levels 0.9180, 0.9534, 0.9710
On the 4-hour chart, the upward correction is developing as a wave 2 of (3) of the higher level. Now the wave c of 2 is forming, within which the fifth wave of the lower level (v) of c is forming. If the assumption is correct, the pair will grow to the level of 0.9710. The level of 0.9534 is critical for this scenario.
Main scenario
Long positions will become relevant during the correction, above the level of 0.9534 with the target at 0.9710.
Alternative scenario
The breakdown and the consolidation of the price below the level of 0.9534 will let the pair go down to the level of 0.9180.
Scenario
Timeframe Intraday
Recommendation BUY
Entry Point 0.9629
Take Profit 0.9710
Stop Loss 0.9570
Key Levels 0.9180, 0.9534, 0.9710
Alternative scenario
Recommendation SELL STOP
Entry Point 0.9530
Take Profit 0.9180
Stop Loss 0.9645
Key Levels 0.9180, 0.9534, 0.9710