The pair can grow.
On the 4-hour chart, the upward momentum is developing as a first wave of the higher level 1 of (3). Now the third wave of the lower level iii of 1 has formed, and the local correction iv of 1 is ending. If the assumption is correct, the pair will grow to the levels of 1.0137–1.0190. The level of 0.9884 is critical and stop-loss for this scenario.
Main scenario
Long positions will become relevant above the level of 0.9884 with the targets at 1.0137–1.0190. Implementation period: 5–7 days.
Alternative scenario
The breakdown and the consolidation of the price below the level of 0.9884 will let the pair go down to the levels of 0.9819–0.9744.
Trade
Scenario
Timeframe Weekly
Recommendation BUY
Entry Point 0.9917
Take Profit 1.0137, 1.0190
Stop Loss 0.9884
Key Levels 0.9744, 0.9819, 0.9884, 1.0137, 1.0190
Alternative scenario
Recommendation SELL STOP
Entry Point 0.9880
Take Profit 0.9819, 0.9744
Stop Loss 0.9910
Key Levels 0.9744, 0.9819, 0.9884, 1.0137, 1.0190
On the 4-hour chart, the upward momentum is developing as a first wave of the higher level 1 of (3). Now the third wave of the lower level iii of 1 has formed, and the local correction iv of 1 is ending. If the assumption is correct, the pair will grow to the levels of 1.0137–1.0190. The level of 0.9884 is critical and stop-loss for this scenario.
Main scenario
Long positions will become relevant above the level of 0.9884 with the targets at 1.0137–1.0190. Implementation period: 5–7 days.
Alternative scenario
The breakdown and the consolidation of the price below the level of 0.9884 will let the pair go down to the levels of 0.9819–0.9744.
Trade
Scenario
Timeframe Weekly
Recommendation BUY
Entry Point 0.9917
Take Profit 1.0137, 1.0190
Stop Loss 0.9884
Key Levels 0.9744, 0.9819, 0.9884, 1.0137, 1.0190
Alternative scenario
Recommendation SELL STOP
Entry Point 0.9880
Take Profit 0.9819, 0.9744
Stop Loss 0.9910
Key Levels 0.9744, 0.9819, 0.9884, 1.0137, 1.0190