The pair may grow.
On the 4-hour chart, a downward correction of the higher level developed as the wave (2), within which the wave C of (2) formed. Now the development of the third wave (3) has begun, within which the first wave of the lower level i of 1 of (3) is forming. If the assumption is correct, the pair will grow to the levels of 1.0126–1.0256. In this scenario, critical stop loss level is 0.9914.
Main scenario
Long positions will become relevant during the correction, above the level of 0.9914 with the targets at 1.0126–1.0256. Implementation period: 7 days and more.
Alternative scenario
The breakdown and the consolidation of the price below the level of 0.9914 will let the pair go down to the levels of 0.9801–0.9712.
Scenario
Timeframe Weekly
Recommendation BUY
Entry Point 0.9975
Take Profit 1.0126, 1.0256
Stop Loss 0.9914
Key Levels 0.9712, 0.9801, 0.9914, 1.0126, 1.0256
Alternative scenario
Recommendation SELL STOP
Entry Point 0.9910
Take Profit 0.9801, 0.9712
Stop Loss 0.9970
Key Levels 0.9712, 0.9801, 0.9914, 1.0126, 1.0256
On the 4-hour chart, a downward correction of the higher level developed as the wave (2), within which the wave C of (2) formed. Now the development of the third wave (3) has begun, within which the first wave of the lower level i of 1 of (3) is forming. If the assumption is correct, the pair will grow to the levels of 1.0126–1.0256. In this scenario, critical stop loss level is 0.9914.
Main scenario
Long positions will become relevant during the correction, above the level of 0.9914 with the targets at 1.0126–1.0256. Implementation period: 7 days and more.
Alternative scenario
The breakdown and the consolidation of the price below the level of 0.9914 will let the pair go down to the levels of 0.9801–0.9712.
Scenario
Timeframe Weekly
Recommendation BUY
Entry Point 0.9975
Take Profit 1.0126, 1.0256
Stop Loss 0.9914
Key Levels 0.9712, 0.9801, 0.9914, 1.0126, 1.0256
Alternative scenario
Recommendation SELL STOP
Entry Point 0.9910
Take Profit 0.9801, 0.9712
Stop Loss 0.9970
Key Levels 0.9712, 0.9801, 0.9914, 1.0126, 1.0256