The pair can decrease.
On the 4-hour chart, the upward correction is developing as a wave 2 of (3) of the higher level. Now the wave a of 2 has formed, and the wave b of 2 is developing. If the assumption is correct, the pair will fall to the level of 0.9270. The level of 0.9417 is critical for this scenario.
Main scenario
Short positions will become relevant below the level of 0.9417 with the target at 0.9270.
Alternative scenario
The breakout and the consolidation of the price above the level of 0.9417 will let the pair grow to the levels of 0.9510–0.9612.
Trade
Scenario
Timeframe Intraday
Recommendation SELL
Entry Point 0.9365
Take Profit 0.9270
Stop Loss 0.9430
Key Levels 0.9270, 0.9417, 0.9510, 0.9612
Alternative scenario
Recommendation BUY STOP
Entry Point 0.9420
Take Profit 0.9510, 0.9612
Stop Loss 0.9360
Key Levels 0.9270, 0.9417, 0.9510, 0.9612
On the 4-hour chart, the upward correction is developing as a wave 2 of (3) of the higher level. Now the wave a of 2 has formed, and the wave b of 2 is developing. If the assumption is correct, the pair will fall to the level of 0.9270. The level of 0.9417 is critical for this scenario.
Main scenario
Short positions will become relevant below the level of 0.9417 with the target at 0.9270.
Alternative scenario
The breakout and the consolidation of the price above the level of 0.9417 will let the pair grow to the levels of 0.9510–0.9612.
Trade
Scenario
Timeframe Intraday
Recommendation SELL
Entry Point 0.9365
Take Profit 0.9270
Stop Loss 0.9430
Key Levels 0.9270, 0.9417, 0.9510, 0.9612
Alternative scenario
Recommendation BUY STOP
Entry Point 0.9420
Take Profit 0.9510, 0.9612
Stop Loss 0.9360
Key Levels 0.9270, 0.9417, 0.9510, 0.9612