On the daily chart, the third wave of the senior level is developing. At the moment, it seems that the first wave i of 3 has been formed, and the correction ii of 3 has been completed. The critical level for this scenario is 1.3249.
Main scenario
Long positions will become relevant above 1.3249 with the target at 1.3700. Implementation period: 7+ days.
Alternative scenario
Breakdown and consolidation of the price below the level of 1.3249 will allow the pair to decline to 1.3079.
Scenario
Timeframe Weekly Recommendation BUY Entry Point 1.3378 Take Profit 1.3700 Stop Loss 1.3249 Key Levels 1.3079, 1.3249, 1.3700
Alternative scenario
Recommendation SELL STOP Entry Point 1.3240 Take Profit 1.3079 Stop Loss 1.3300 Key Levels 1.3079, 1.3249, 1.3700