The pair may decrease.
On the 4-hour chart, the downward correction of the higher level develops as a wave (2). Now the upward correction of the lower level has developed as a wave B of (2), and the formation of the wave C of (2) is beginning. If the assumption is correct, the pair will fall to the levels of 0.9859–0.9724. In this scenario, critical stop loss level is 1.0127.
Main scenario
Short positions will become relevant below the level of 1.0127 with the targets at 0.9859–0.9724. Implementation period: 7 days and more.
Alternative scenario
The breakout and the consolidation of the price above the level of 1.0127 will let the pair grow to the level of 1.0238.
Scenario
Timeframe Weekly
Recommendation SELL
Entry Point 1.0002
Take Profit 0.9859, 0.9724
Stop Loss 1.0127
Key Levels 0.9724, 0.9859, 1.0127, 1.0238
Alternative scenario
Recommendation BUY STOP
Entry Point 1.0130
Take Profit 1.0238
Stop Loss 1.0070
Key Levels 0.9724, 0.9859, 1.0127, 1.0238
On the 4-hour chart, the downward correction of the higher level develops as a wave (2). Now the upward correction of the lower level has developed as a wave B of (2), and the formation of the wave C of (2) is beginning. If the assumption is correct, the pair will fall to the levels of 0.9859–0.9724. In this scenario, critical stop loss level is 1.0127.
Main scenario
Short positions will become relevant below the level of 1.0127 with the targets at 0.9859–0.9724. Implementation period: 7 days and more.
Alternative scenario
The breakout and the consolidation of the price above the level of 1.0127 will let the pair grow to the level of 1.0238.
Scenario
Timeframe Weekly
Recommendation SELL
Entry Point 1.0002
Take Profit 0.9859, 0.9724
Stop Loss 1.0127
Key Levels 0.9724, 0.9859, 1.0127, 1.0238
Alternative scenario
Recommendation BUY STOP
Entry Point 1.0130
Take Profit 1.0238
Stop Loss 1.0070
Key Levels 0.9724, 0.9859, 1.0127, 1.0238