On the 4-hour chart, the first wave of the higher level 1 of (1) of 3 develops, within which the first wave of the lower level i of 1 formed. Now, a local correction has developed as the wave ii of 1, which has reached the correctional Fibonacci level 62%. If the assumption is correct, the pair will grow to the levels of 1.1099–1.1176. In this scenario, critical stop loss level is 1.0981.
Main scenario
Long positions will become relevant above the level of 1.0981 with the targets at 1.1099–1.1176. Implementation period: 7 days and more.
Alternative scenario
The breakout and the consolidation of the price below the level of 1.0981 will let the pair go down to the levels of 1.0800–1.0750.
Scenario
Timeframe Weekly Recommendation BUY Entry Point 1.1018 Take Profit 1.1099, 1.1176 Stop Loss 1.0981 Key Levels 1.0750, 1.0800, 1.0981, 1.1099, 1.1176
Alternative scenario
Recommendation SELL STOP Entry Point 1.0975 Take Profit 1.0800, 1.0750 Stop Loss 1.1035 Key Levels 1.0750, 1.0800, 1.0981, 1.1099, 1.1176
As informações e publicações não devem ser e não constituem conselhos ou recomendações financeiras, de investimento, de negociação ou de qualquer outro tipo, fornecidas ou endossadas pela TradingView. Leia mais em Termos de uso.