The pair is growing.
On the 4-hour chart the upward trend within the fifth wave 5 of the higher level is forming. Locally the third wave of the lower level (iii) of iii of 5 is developing. If the assumption is correct, the price will grow to the levels of 1.3350–1.3400. The level of 1.3090 is critical for this scenario.
Main scenario
Long positions can be opened during the correction, above the level of 1.3090 with the targets at 1.3350–1.3400.
Alternative scenario
The breakdown and the consolidation of the price below the level of 1.3090 will let the pair go down to the levels of 1.2800–1.2700.
On the 4-hour chart the upward trend within the fifth wave 5 of the higher level is forming. Locally the third wave of the lower level (iii) of iii of 5 is developing. If the assumption is correct, the price will grow to the levels of 1.3350–1.3400. The level of 1.3090 is critical for this scenario.
Main scenario
Long positions can be opened during the correction, above the level of 1.3090 with the targets at 1.3350–1.3400.
Alternative scenario
The breakdown and the consolidation of the price below the level of 1.3090 will let the pair go down to the levels of 1.2800–1.2700.