The pair may grow.
Within the H4 timeframe, the uptrend is presumably continuing as the first wave of the higher level 1 of (3). At the moment, apparently, the third wave of lower level iii of 1 is developing, within the framework of which the local correction (iv) of iii was completed. If the assumption is right, the growth of the pair will continue to the levels of 1.0137–1.0190. The level of 0.9953 is critical and stop-loss for this scenario.
Main scenario
Long positions are relevant above the level of 0.9953 with targets at 1.0137–1.0190. Implementation period: 3–5 days.
Alternative scenario
Breaking down the level of 0.9953 and consolidation below it will allow the pair to continue reduction to the level 0.9860–0.9798.
Trade
Scenario
Timeframe Weekly
Recommendation BUY
Entry Point 1.0005
Take Profit 1.0137, 1.0190
Stop Loss 0.9953
Key Levels 0.9798, 0.9860, 0.9953, 1.0137, 1.0190
Alternative scenario
Recommendation SELL STOP
Entry Point 0.9945
Take Profit 0.9860, 0.9798
Stop Loss 1.0000
Key Levels 0.9798, 0.9860, 0.9953, 1.0137, 1.0190
Within the H4 timeframe, the uptrend is presumably continuing as the first wave of the higher level 1 of (3). At the moment, apparently, the third wave of lower level iii of 1 is developing, within the framework of which the local correction (iv) of iii was completed. If the assumption is right, the growth of the pair will continue to the levels of 1.0137–1.0190. The level of 0.9953 is critical and stop-loss for this scenario.
Main scenario
Long positions are relevant above the level of 0.9953 with targets at 1.0137–1.0190. Implementation period: 3–5 days.
Alternative scenario
Breaking down the level of 0.9953 and consolidation below it will allow the pair to continue reduction to the level 0.9860–0.9798.
Trade
Scenario
Timeframe Weekly
Recommendation BUY
Entry Point 1.0005
Take Profit 1.0137, 1.0190
Stop Loss 0.9953
Key Levels 0.9798, 0.9860, 0.9953, 1.0137, 1.0190
Alternative scenario
Recommendation SELL STOP
Entry Point 0.9945
Take Profit 0.9860, 0.9798
Stop Loss 1.0000
Key Levels 0.9798, 0.9860, 0.9953, 1.0137, 1.0190