The pair can grow.
On the 4-hour chart the development of the downward correction of the higher level as a wave B is developing. At the moment the formation of the wave C, within which the small entering momentum i has formed, is developing. If the assumption is correct, the pair will grow to the level of 0.9841. The level of 0.9535 is critical for this scenario.
Main scenario
Long positions will become relevant during the correction, above the level of 0.9535 with the target at 0.9840.
Alternative scenario
The breakdown and the consolidation of the price below the level of 0.9535 will let the pair go down to the level of 0.9417.
Trade
Scenario
Timeframe Weekly
Recommendation BUY
Entry Point 0.9543
Take Profit 0.9840
Stop Loss 0.9445
Key Levels 0.9417, 0.9535, 0.9840
Alternative scenario
Recommendation SELL STOP
Entry Point 0.9530
Take Profit 0.9417
Stop Loss 0.9590
Key Levels 0.9417, 0.9535, 0.9840
On the 4-hour chart the development of the downward correction of the higher level as a wave B is developing. At the moment the formation of the wave C, within which the small entering momentum i has formed, is developing. If the assumption is correct, the pair will grow to the level of 0.9841. The level of 0.9535 is critical for this scenario.
Main scenario
Long positions will become relevant during the correction, above the level of 0.9535 with the target at 0.9840.
Alternative scenario
The breakdown and the consolidation of the price below the level of 0.9535 will let the pair go down to the level of 0.9417.
Trade
Scenario
Timeframe Weekly
Recommendation BUY
Entry Point 0.9543
Take Profit 0.9840
Stop Loss 0.9445
Key Levels 0.9417, 0.9535, 0.9840
Alternative scenario
Recommendation SELL STOP
Entry Point 0.9530
Take Profit 0.9417
Stop Loss 0.9590
Key Levels 0.9417, 0.9535, 0.9840