The pair may grow.
On the 4-hour chart, the first wave of the higher level 1 of (1) of 3 develops, within which the local correction ii of 1 formed. Now, the development of the third wave iii of 1 has started, within which the wave of the lower level (i) of iii has formed. If the assumption is correct, the pair will grow to the levels of 1.1181–1.1281. In this scenario, critical stop loss level is 1.0986.
Main scenario
Long positions will become relevant above the level of 1.0986 with the targets at 1.1181–1.1281. Implementation period: 7 days and more.
Alternative scenario
The breakout and the consolidation of the price below the level of 1.0986 will let the pair go down to the levels of 1.0800–1.0750.
Scenario
Timeframe Weekly
Recommendation BUY
Entry Point 1.1081
Take Profit 1.1181, 1.1281
Stop Loss 1.0986
Key Levels 1.0750, 1.0800, 1.0986, 1.1181, 1.1281
Alternative scenario
Recommendation SELL
Entry Point 1.0980
Take Profit 1.0800, 1.0750
Stop Loss 1.1040
Key Levels 1.0750, 1.0800, 1.0986, 1.1181, 1.1281
On the 4-hour chart, the first wave of the higher level 1 of (1) of 3 develops, within which the local correction ii of 1 formed. Now, the development of the third wave iii of 1 has started, within which the wave of the lower level (i) of iii has formed. If the assumption is correct, the pair will grow to the levels of 1.1181–1.1281. In this scenario, critical stop loss level is 1.0986.
Main scenario
Long positions will become relevant above the level of 1.0986 with the targets at 1.1181–1.1281. Implementation period: 7 days and more.
Alternative scenario
The breakout and the consolidation of the price below the level of 1.0986 will let the pair go down to the levels of 1.0800–1.0750.
Scenario
Timeframe Weekly
Recommendation BUY
Entry Point 1.1081
Take Profit 1.1181, 1.1281
Stop Loss 1.0986
Key Levels 1.0750, 1.0800, 1.0986, 1.1181, 1.1281
Alternative scenario
Recommendation SELL
Entry Point 1.0980
Take Profit 1.0800, 1.0750
Stop Loss 1.1040
Key Levels 1.0750, 1.0800, 1.0986, 1.1181, 1.1281