The probability of the pair reducing remains.
Within the H4 timeframe, the development of a downward correction of the higher level is presumably continuing as the wave (2). Locally, a wave A of (2) is being formed, within the framework of which there is a development of the fifth wave v of A. If the assumption is correct, the pair may continue to fall to the level of 1.3268. The level of 1.3620 is critical and stop-loss for this scenario.
Main scenario
Short positions are relevant below the level of 1.3620 with target at 1.3268. Implementation period: 3–5 days.
Alternative scenario
Breakout and consolidation of the price above the level of 1.3620 will help the pair continue growth to the levels of 1.3738–1.3800.
Trade
Scenario
Timeframe Weekly
Recommendation SELL
Entry Point 1.3515
Take Profit 1.3268
Stop Loss 1.3620
Key Levels 1.3268, 1.3620, 1.3738, 1.3800
Alternative scenario
Recommendation BUY STOP
Entry Point 1.3630
Take Profit 1.3738, 1.3800
Stop Loss 1.3570
Key Levels 1.3268, 1.3620, 1.3738, 1.3800
Within the H4 timeframe, the development of a downward correction of the higher level is presumably continuing as the wave (2). Locally, a wave A of (2) is being formed, within the framework of which there is a development of the fifth wave v of A. If the assumption is correct, the pair may continue to fall to the level of 1.3268. The level of 1.3620 is critical and stop-loss for this scenario.
Main scenario
Short positions are relevant below the level of 1.3620 with target at 1.3268. Implementation period: 3–5 days.
Alternative scenario
Breakout and consolidation of the price above the level of 1.3620 will help the pair continue growth to the levels of 1.3738–1.3800.
Trade
Scenario
Timeframe Weekly
Recommendation SELL
Entry Point 1.3515
Take Profit 1.3268
Stop Loss 1.3620
Key Levels 1.3268, 1.3620, 1.3738, 1.3800
Alternative scenario
Recommendation BUY STOP
Entry Point 1.3630
Take Profit 1.3738, 1.3800
Stop Loss 1.3570
Key Levels 1.3268, 1.3620, 1.3738, 1.3800