The pair can decrease.
On the 4-hour chart, the development of the upward correction as a wave 2 of (3) of the higher level has ended. Now the entering momentum of the lower level i of (i) has formed. If the assumption is correct, the pair will fall to the levels of 0.9324–0.9186. The level of 0.9490 is critical for this scenario.
Main scenario
Short positions will become relevant during the correction, below the level of 0.9490 with the targets at 0.9324–0.9186.
Alternative scenario
The breakout and the consolidation of the price above the level of 0.9490 will let the pair grow to the level of 0.9612.
Trade
Scenario
Timeframe Intraday
Recommendation SELL
Entry Point 0.9395
Take Profit 0.9324, 0.9186
Stop Loss 0.9455
Key Levels 0.9186, 0.9324, 0.9490, 0.9612
Alternative scenario
Recommendation BUY STOP
Entry Point 0.9500
Take Profit 0.9612
Stop Loss 0.9440
Key Levels 0.9186, 0.9324, 0.9490, 0.9612
On the 4-hour chart, the development of the upward correction as a wave 2 of (3) of the higher level has ended. Now the entering momentum of the lower level i of (i) has formed. If the assumption is correct, the pair will fall to the levels of 0.9324–0.9186. The level of 0.9490 is critical for this scenario.
Main scenario
Short positions will become relevant during the correction, below the level of 0.9490 with the targets at 0.9324–0.9186.
Alternative scenario
The breakout and the consolidation of the price above the level of 0.9490 will let the pair grow to the level of 0.9612.
Trade
Scenario
Timeframe Intraday
Recommendation SELL
Entry Point 0.9395
Take Profit 0.9324, 0.9186
Stop Loss 0.9455
Key Levels 0.9186, 0.9324, 0.9490, 0.9612
Alternative scenario
Recommendation BUY STOP
Entry Point 0.9500
Take Profit 0.9612
Stop Loss 0.9440
Key Levels 0.9186, 0.9324, 0.9490, 0.9612