The correction has ended, the growth of the pair is expected.
On the 4-hour chart, the downward correction has formed as a wave ii of 3. Now the development of the wave (i) of iii, within which the first entry wave of the lower level i of (i) has formed, has begun. If the assumption is correct, the pair will grow to the level of 1.2939. The level of 1.2526 is critical for this scenario.
Main scenario
Long positions will become relevant during the correction, above the level of 1.2526 with the target at 1.2939.
Alternative scenario
The breakdown and the consolidation of the price below the level of 1.2526 will let the pair go down to the level of 1.2448.
Scenario
Timeframe Weekly
Recommendation BUY
Entry Point 1.2670
Take Profit 1.2939
Stop Loss 1.2580
Key Levels 1.2448, 1.2526, 1.2939
Alternative scenario
Recommendation SELL STOP
Entry Point 1.2520
Take Profit 1.2448
Stop Loss 1.2580
Key Levels 1.2448, 1.2526, 1.2939
On the 4-hour chart, the downward correction has formed as a wave ii of 3. Now the development of the wave (i) of iii, within which the first entry wave of the lower level i of (i) has formed, has begun. If the assumption is correct, the pair will grow to the level of 1.2939. The level of 1.2526 is critical for this scenario.
Main scenario
Long positions will become relevant during the correction, above the level of 1.2526 with the target at 1.2939.
Alternative scenario
The breakdown and the consolidation of the price below the level of 1.2526 will let the pair go down to the level of 1.2448.
Scenario
Timeframe Weekly
Recommendation BUY
Entry Point 1.2670
Take Profit 1.2939
Stop Loss 1.2580
Key Levels 1.2448, 1.2526, 1.2939
Alternative scenario
Recommendation SELL STOP
Entry Point 1.2520
Take Profit 1.2448
Stop Loss 1.2580
Key Levels 1.2448, 1.2526, 1.2939