The pair can decrease.
On the 4-hour chart, the downward correction of the higher level develops as a wave 2. Now the wave a of 2 is forming, within which the fifth ending wave of the lower level (v) of a is developing. If the assumption is correct, the pair will fall to the level of 0.9524. In this scenario, critical stop loss level is 0.9694.
Main scenario
Short positions will become relevant below the level of 0.9694 with the target at 0.9524. Implementation period: 3–5 days.
Alternative scenario
The breakout and the consolidation of the price above the level of 0.9694 will let the pair grow to the levels of 0.9762–0.9864.
Scenario
Timeframe Weekly
Recommendation SELL
Entry Point 0.9660
Take Profit 0.9524
Stop Loss 0.9694
Key Levels 0.9524, 0.9694, 0.9762, 0.9864
Alternative scenario
Recommendation BUY STOP
Entry Point 0.9700
Take Profit 0.9762, 0.9864
Stop Loss 0.9680
Key Levels 0.9524, 0.9694, 0.9762, 0.9864
On the 4-hour chart, the downward correction of the higher level develops as a wave 2. Now the wave a of 2 is forming, within which the fifth ending wave of the lower level (v) of a is developing. If the assumption is correct, the pair will fall to the level of 0.9524. In this scenario, critical stop loss level is 0.9694.
Main scenario
Short positions will become relevant below the level of 0.9694 with the target at 0.9524. Implementation period: 3–5 days.
Alternative scenario
The breakout and the consolidation of the price above the level of 0.9694 will let the pair grow to the levels of 0.9762–0.9864.
Scenario
Timeframe Weekly
Recommendation SELL
Entry Point 0.9660
Take Profit 0.9524
Stop Loss 0.9694
Key Levels 0.9524, 0.9694, 0.9762, 0.9864
Alternative scenario
Recommendation BUY STOP
Entry Point 0.9700
Take Profit 0.9762, 0.9864
Stop Loss 0.9680
Key Levels 0.9524, 0.9694, 0.9762, 0.9864