The pair can grow.
On the 4-hour chart, the upward correction is developing as a wave 2 of (3) of the higher level. Now the wave c of 2 is developing. If the assumption is correct, the pair will grow to the levels of 0.9612–0.9710. The level of 0.9465 is critical for this scenario.
Main scenario
Long positions will become relevant above the level of 0.9465 with the targets at 0.9612–0.9710.
Alternative scenario
The breakdown and the consolidation of the price below the level of 0.9465 will let the pair go down to the levels of 0.9424–0.9357.
Trade
Scenario
Timeframe Weekly
Recommendation BUY
Entry Point 0.9501
Take Profit 0.9612, 0.9710
Stop Loss 0.9440
Key Levels 0.9357, 0.9424, 0.9465, 0.9612, 0.9710
Alternative scenario
Recommendation SELL STOP
Entry Point 0.9460
Take Profit 0.9424, 0.9357
Stop Loss 0.9495
Key Levels 0.9357, 0.9424, 0.9465, 0.9612, 0.9710
On the 4-hour chart, the upward correction is developing as a wave 2 of (3) of the higher level. Now the wave c of 2 is developing. If the assumption is correct, the pair will grow to the levels of 0.9612–0.9710. The level of 0.9465 is critical for this scenario.
Main scenario
Long positions will become relevant above the level of 0.9465 with the targets at 0.9612–0.9710.
Alternative scenario
The breakdown and the consolidation of the price below the level of 0.9465 will let the pair go down to the levels of 0.9424–0.9357.
Trade
Scenario
Timeframe Weekly
Recommendation BUY
Entry Point 0.9501
Take Profit 0.9612, 0.9710
Stop Loss 0.9440
Key Levels 0.9357, 0.9424, 0.9465, 0.9612, 0.9710
Alternative scenario
Recommendation SELL STOP
Entry Point 0.9460
Take Profit 0.9424, 0.9357
Stop Loss 0.9495
Key Levels 0.9357, 0.9424, 0.9465, 0.9612, 0.9710