The pair can grow.
On the 4-hour chart, the downward correction of the higher level is developing as a wave (2). Locally the wave and of (2) has formed, and the development of the upward correction of the lower level as a wave B of (2) begins. If the assumption is correct, the price will grow to the levels of 1.3472–1.3645. The level of 1.3226 is critical and stop-loss for this scenario.
Main scenario
Long positions will become relevant during the correction, above the level of 1.3226 with the targets at 1.3472–1.3645. Implementation period: 5–7 days.
Alternative scenario
The breakdown and the consolidation of the price below the level of 1.3226 will let the pair go down to the level of 1.3100.
Trade
Scenario
Timeframe Weekly
Recommendation BUY
Entry Point 1.3313
Take Profit 1.3472, 1.3645
Stop Loss 1.3226
Key Levels 1.3100, 1.3226, 1.3472, 1.3645
Alternative scenario
Recommendation SELL STOP
Entry Point 1.3220
Take Profit 1.3100
Stop Loss 1.3280
Key Levels 1.3100, 1.3226, 1.3472, 1.3645
On the 4-hour chart, the downward correction of the higher level is developing as a wave (2). Locally the wave and of (2) has formed, and the development of the upward correction of the lower level as a wave B of (2) begins. If the assumption is correct, the price will grow to the levels of 1.3472–1.3645. The level of 1.3226 is critical and stop-loss for this scenario.
Main scenario
Long positions will become relevant during the correction, above the level of 1.3226 with the targets at 1.3472–1.3645. Implementation period: 5–7 days.
Alternative scenario
The breakdown and the consolidation of the price below the level of 1.3226 will let the pair go down to the level of 1.3100.
Trade
Scenario
Timeframe Weekly
Recommendation BUY
Entry Point 1.3313
Take Profit 1.3472, 1.3645
Stop Loss 1.3226
Key Levels 1.3100, 1.3226, 1.3472, 1.3645
Alternative scenario
Recommendation SELL STOP
Entry Point 1.3220
Take Profit 1.3100
Stop Loss 1.3280
Key Levels 1.3100, 1.3226, 1.3472, 1.3645