The pair is correcting.
On the H4 chart the formation of the downward trend as the third wave 3 of the higher level is likely to continue. Locally, the fifth wave v of 3 is developing, within which the third wave (iii) of v has formed, and the formation of the upward correction (iv) has started. If the assumption is correct, after its completion the pair is likely to continue falling to the levels of 0.9400–0.9350. A critical level for this scenario is 0.9600.
Main scenario
One shall wait for the end of correction and sell the pair below 0.9600 with targets at 0.9400–0.9350.
Alternative scenario
The breakout and the consolidation of the price above the level of 0.9600 will help the pair to continue growth to the levels of 0.9700–0.9760.
On the H4 chart the formation of the downward trend as the third wave 3 of the higher level is likely to continue. Locally, the fifth wave v of 3 is developing, within which the third wave (iii) of v has formed, and the formation of the upward correction (iv) has started. If the assumption is correct, after its completion the pair is likely to continue falling to the levels of 0.9400–0.9350. A critical level for this scenario is 0.9600.
Main scenario
One shall wait for the end of correction and sell the pair below 0.9600 with targets at 0.9400–0.9350.
Alternative scenario
The breakout and the consolidation of the price above the level of 0.9600 will help the pair to continue growth to the levels of 0.9700–0.9760.