The pair may decrease.
On the 4-hour chart, the downward correction of the higher level develops as a wave (2). Now the formation of the wave C of (2) has begun, within which the first wave of the lower level i of C is developing as a momentum. 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 0.9996.
Main scenario
Short positions will become relevant below the level of 0.9996 with the targets at 0.9859–0.9724. Implementation period: 5–7 days.
Alternative scenario
The breakout and the consolidation of the price above the level of 0.9996 will let the pair grow to the level of 1.0086.
Scenario
Timeframe Weekly
Recommendation SELL
Entry Point 0.9940
Take Profit 0.9859, 0.9724
Stop Loss 0.9996
Key Levels 0.9724, 0.9859, 0.9996, 1.0086
Alternative scenario
Recommendation BUY STOP
Entry Point 1.0000
Take Profit 1.0086
Stop Loss 0.9940
Key Levels 0.9724, 0.9859, 0.9996, 1.0086
On the 4-hour chart, the downward correction of the higher level develops as a wave (2). Now the formation of the wave C of (2) has begun, within which the first wave of the lower level i of C is developing as a momentum. 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 0.9996.
Main scenario
Short positions will become relevant below the level of 0.9996 with the targets at 0.9859–0.9724. Implementation period: 5–7 days.
Alternative scenario
The breakout and the consolidation of the price above the level of 0.9996 will let the pair grow to the level of 1.0086.
Scenario
Timeframe Weekly
Recommendation SELL
Entry Point 0.9940
Take Profit 0.9859, 0.9724
Stop Loss 0.9996
Key Levels 0.9724, 0.9859, 0.9996, 1.0086
Alternative scenario
Recommendation BUY STOP
Entry Point 1.0000
Take Profit 1.0086
Stop Loss 0.9940
Key Levels 0.9724, 0.9859, 0.9996, 1.0086