The growth of the pair is expected.
The third wave of the highest level 3, within which the entering momentum of the lower level (i) has formed, is forming. Locally the downward correction (ii), which reached the level of 50%, has formed. If the assumption is correct, the pair can grow to the level of 1.0104. The level of 0.9938 is critical for this scenario.
Trading scenario
Buy the pair from the correction above the level of 0.9938 with the target at 1.0104.
Alternative scenario
The breakout and the consolidation of the price below the level of 0.9938 will let the pair to lower to the level of 0.9813.
The third wave of the highest level 3, within which the entering momentum of the lower level (i) has formed, is forming. Locally the downward correction (ii), which reached the level of 50%, has formed. If the assumption is correct, the pair can grow to the level of 1.0104. The level of 0.9938 is critical for this scenario.
Trading scenario
Buy the pair from the correction above the level of 0.9938 with the target at 1.0104.
Alternative scenario
The breakout and the consolidation of the price below the level of 0.9938 will let the pair to lower to the level of 0.9813.