The price can fall.
On the 4-hour chart, the upward momentum is developing as a first wave of the higher level 1 of (3). Now the local correction is developing as a fourth wave iv of 1, within which the wave (c) of iv is forming. If the assumption is correct, the pair will fall to the levels of 0.9819–0.9744. The level of 0.9886 is critical and stop-loss for this scenario.
Main scenario
Short positions will become relevant below the level of 0.9886 with the targets at 0.9819–0.9744. Implementation period: 3–5 days.
Alternative scenario
The breakout and the consolidation of the price above the level of 0.9886 will let the pair grow to the levels of 0.9985–1.0057.
Trade
Scenario
Timeframe Weekly
Recommendation SELL
Entry Point 0.9841
Take Profit 0.9819, 0.9744
Stop Loss 0.9886
Key Levels 0.9744, 0.9819, 0.9886, 0.9985, 1.0057
Alternative scenario
Recommendation BUY STOP
Entry Point 0.9890
Take Profit 0.9985, 1.0057
Stop Loss 0.9830
Key Levels 0.9744, 0.9819, 0.9886, 0.9985, 1.0057
On the 4-hour chart, the upward momentum is developing as a first wave of the higher level 1 of (3). Now the local correction is developing as a fourth wave iv of 1, within which the wave (c) of iv is forming. If the assumption is correct, the pair will fall to the levels of 0.9819–0.9744. The level of 0.9886 is critical and stop-loss for this scenario.
Main scenario
Short positions will become relevant below the level of 0.9886 with the targets at 0.9819–0.9744. Implementation period: 3–5 days.
Alternative scenario
The breakout and the consolidation of the price above the level of 0.9886 will let the pair grow to the levels of 0.9985–1.0057.
Trade
Scenario
Timeframe Weekly
Recommendation SELL
Entry Point 0.9841
Take Profit 0.9819, 0.9744
Stop Loss 0.9886
Key Levels 0.9744, 0.9819, 0.9886, 0.9985, 1.0057
Alternative scenario
Recommendation BUY STOP
Entry Point 0.9890
Take Profit 0.9985, 1.0057
Stop Loss 0.9830
Key Levels 0.9744, 0.9819, 0.9886, 0.9985, 1.0057