Correction is ending. The pair can grow.
On the 4-hour chart the third wave 3 of the higher level is developing, within which the wave iii of 3 is developing. Locally the formation of the downward correction (ii) of iii is ending. If the assumption is correct, the pair will grow to the levels of 1.3660–1.4000. The level of 1.2770 is critical for this scenario.
Main scenario
Long positions will become relevant above the level of 1.2770 with the targets at 1.3660–1.4000.
Alternative scenario
The breakdown and the consolidation of the price below the level of 1.2770 will let the pair go down to the level of 1.2570.
On the 4-hour chart the third wave 3 of the higher level is developing, within which the wave iii of 3 is developing. Locally the formation of the downward correction (ii) of iii is ending. If the assumption is correct, the pair will grow to the levels of 1.3660–1.4000. The level of 1.2770 is critical for this scenario.
Main scenario
Long positions will become relevant above the level of 1.2770 with the targets at 1.3660–1.4000.
Alternative scenario
The breakdown and the consolidation of the price below the level of 1.2770 will let the pair go down to the level of 1.2570.