The pair may grow.
On the 4-hour chart, the third wave of the higher level (3) develops, within which the correctional wave ii of 1 of (3) ended. Now the development of the third wave of the lower level iii of 1 of (3) has begun, within which the first wave of the lower level (i) of iii is forming. If the assumption is correct, the pair will grow to the levels of 1.0147–1.0300. In this scenario, critical stop loss level is 0.9995.
Main scenario
Long positions will become relevant above the level of 0.9995 with the targets at 1.0147–1.0300. Implementation period: 7 days and more.
Alternative scenario
The breakout and the consolidation of the price below the level of 0.9995 will let the pair go down to the levels of 0.9894–0.9709.
Scenario
Timeframe Weekly
Recommendation BUY
Entry Point 1.0074
Take Profit 1.0147, 1.0300
Stop Loss 1.0050
Key Levels 0.9709, 0.9894, 0.9995, 1.0147, 1.0300
Alternative scenario
Recommendation SELL STOP
Entry Point 0.9990
Take Profit 0.9894, 0.9709
Stop Loss 1.0020
Key Levels 0.9709, 0.9894, 0.9995, 1.0147, 1.0300
On the 4-hour chart, the third wave of the higher level (3) develops, within which the correctional wave ii of 1 of (3) ended. Now the development of the third wave of the lower level iii of 1 of (3) has begun, within which the first wave of the lower level (i) of iii is forming. If the assumption is correct, the pair will grow to the levels of 1.0147–1.0300. In this scenario, critical stop loss level is 0.9995.
Main scenario
Long positions will become relevant above the level of 0.9995 with the targets at 1.0147–1.0300. Implementation period: 7 days and more.
Alternative scenario
The breakout and the consolidation of the price below the level of 0.9995 will let the pair go down to the levels of 0.9894–0.9709.
Scenario
Timeframe Weekly
Recommendation BUY
Entry Point 1.0074
Take Profit 1.0147, 1.0300
Stop Loss 1.0050
Key Levels 0.9709, 0.9894, 0.9995, 1.0147, 1.0300
Alternative scenario
Recommendation SELL STOP
Entry Point 0.9990
Take Profit 0.9894, 0.9709
Stop Loss 1.0020
Key Levels 0.9709, 0.9894, 0.9995, 1.0147, 1.0300