On the 4-hour chart, the upward correction is developing as a wave 2 of (3) of the higher level. Now the wave c of 2 is forming, within which the fifth wave of the lower level (v) of c is forming. If the assumption is correct, the pair will grow to the level of 0.9710. The level of 0.9534 is critical for this scenario.
Main scenario
Long positions will become relevant during the correction, above the level of 0.9534 with the target at 0.9710.
Alternative scenario
The breakdown and the consolidation of the price below the level of 0.9534 will let the pair go down to the level of 0.9180.
Scenario Timeframe Intraday Recommendation BUY Entry Point 0.9629 Take Profit 0.9710 Stop Loss 0.9570 Key Levels 0.9180, 0.9534, 0.9710 Alternative scenario Recommendation SELL STOP Entry Point 0.9530 Take Profit 0.9180 Stop Loss 0.9645 Key Levels 0.9180, 0.9534, 0.9710