The pair can fall.
On the 4-hour chart the downward correction is forming as a wave (2) of the higher level. Now the wave C of (2) is forming, within it the first wave of the lower level i of C is forming. If the assumption is correct, the pair will fall to the levels of 1.1710–1.1650. The level of 1.1813 is critical for this scenario.
Main scenario
Short positions will become relevant during the correction, below the level of 1.1813 with the targets at 1.1710–1.1650.
Alternative scenario
The breakout and the consolidation of the price above the level of 1.1813 will let the pair grow to the level of 1.1938.
Euro vs US Dollar
Buy Sell Spread
1.17891 1.17868 23
Scenario
Timeframe Day's Range
Recommendations SELL
Entry Point 1.1774
Take Profit 1.1710, 1.1650
Stop Loss 1.1835
Support levels 1.1650, 1.1710, 1.1813, 1.1938
Alternative scenario
Recommendations BUY STOP
Entry Point 1.1820
Take Profit 1.1938
Stop Loss 1.1760
Support levels 1.1650, 1.1710, 1.1813, 1.1938
On the 4-hour chart the downward correction is forming as a wave (2) of the higher level. Now the wave C of (2) is forming, within it the first wave of the lower level i of C is forming. If the assumption is correct, the pair will fall to the levels of 1.1710–1.1650. The level of 1.1813 is critical for this scenario.
Main scenario
Short positions will become relevant during the correction, below the level of 1.1813 with the targets at 1.1710–1.1650.
Alternative scenario
The breakout and the consolidation of the price above the level of 1.1813 will let the pair grow to the level of 1.1938.
Euro vs US Dollar
Buy Sell Spread
1.17891 1.17868 23
Scenario
Timeframe Day's Range
Recommendations SELL
Entry Point 1.1774
Take Profit 1.1710, 1.1650
Stop Loss 1.1835
Support levels 1.1650, 1.1710, 1.1813, 1.1938
Alternative scenario
Recommendations BUY STOP
Entry Point 1.1820
Take Profit 1.1938
Stop Loss 1.1760
Support levels 1.1650, 1.1710, 1.1813, 1.1938