The pair may decrease.
On the 4-hour chart, an upward correction developed as a wave of the higher level iv of 1 of (5). Now a small entry momentum has formed as a wave i of (i) of v. If the assumption is correct, the pair will fall to the levels of 0.7020–0.6950. In this scenario, critical stop loss level is 0.7303.
Main scenario
Short positions will become relevant below the level of 0.7303 with the targets at 0.7020–0.6950. Implementation period: 7 days and more.
Alternative scenario
The breakout and the consolidation of the price above the level of 0.7303 will let the pair grow to the level of 0.7380.
Scenario
Timeframe Weekly
Recommendation SELL
Entry Point 0.7220
Take Profit 0.7020, 0.6950
Stop Loss 0.7303
Key Levels 0.6950, 0.7020, 0.7303, 0.7380
Alternative scenario
Recommendation BUY STOP
Entry Point 0.7310
Take Profit 0.7380
Stop Loss 0.7250
Key Levels 0.6950, 0.7020, 0.7303, 0.7380
On the 4-hour chart, an upward correction developed as a wave of the higher level iv of 1 of (5). Now a small entry momentum has formed as a wave i of (i) of v. If the assumption is correct, the pair will fall to the levels of 0.7020–0.6950. In this scenario, critical stop loss level is 0.7303.
Main scenario
Short positions will become relevant below the level of 0.7303 with the targets at 0.7020–0.6950. Implementation period: 7 days and more.
Alternative scenario
The breakout and the consolidation of the price above the level of 0.7303 will let the pair grow to the level of 0.7380.
Scenario
Timeframe Weekly
Recommendation SELL
Entry Point 0.7220
Take Profit 0.7020, 0.6950
Stop Loss 0.7303
Key Levels 0.6950, 0.7020, 0.7303, 0.7380
Alternative scenario
Recommendation BUY STOP
Entry Point 0.7310
Take Profit 0.7380
Stop Loss 0.7250
Key Levels 0.6950, 0.7020, 0.7303, 0.7380