The price can fall within the correction.
The wave C of the higher level, within which the first wave i of C has formed, is developing. At the moment the formation of the downward correction as a wave ii of C has begun. If the assumption is correct, the price will fall to the levels of 111.80–110.95. The level of 113.20 is critical for this scenario.
Main scenario
Short positions will become relevant below the level of 113.20 with the targets at 111.80–110.95.
Alternative scenario
The breakout and the consolidation of the price above the level of 113.20 will let the pair grow to the level of 114.30 within trend.
The wave C of the higher level, within which the first wave i of C has formed, is developing. At the moment the formation of the downward correction as a wave ii of C has begun. If the assumption is correct, the price will fall to the levels of 111.80–110.95. The level of 113.20 is critical for this scenario.
Main scenario
Short positions will become relevant below the level of 113.20 with the targets at 111.80–110.95.
Alternative scenario
The breakout and the consolidation of the price above the level of 113.20 will let the pair grow to the level of 114.30 within trend.