The pair is in correction. The fall is possible.
The wave C of the higher level, within which the development the first wave i has ended, is forming. At the moment the local correction as a wave ii is forming. If the assumption is correct, the price will fall to the level of 110.00. The level of 112.53 is critical for this scenario.
Main scenario
Short positions will become relevant below the level of 112.53 with the target at 110.00.
Alternative scenario
The breakout and the consolidation of the price above the level of 112.53 will let the pair grow to the levels of 114.00–115.00.
The wave C of the higher level, within which the development the first wave i has ended, is forming. At the moment the local correction as a wave ii is forming. If the assumption is correct, the price will fall to the level of 110.00. The level of 112.53 is critical for this scenario.
Main scenario
Short positions will become relevant below the level of 112.53 with the target at 110.00.
Alternative scenario
The breakout and the consolidation of the price above the level of 112.53 will let the pair grow to the levels of 114.00–115.00.