The pair can grow.
On the 4-hour chart the upward momentum as a third wave of the higher level iii is forming. Locally the development of the downward correction (iv) has ended. If the assumption is correct, the pair will grow to the level of 0.8100. The level of 0.7810 is critical for this scenario.
Main scenario
Long positions can be opened above the level of 0.7810 with the target at 0.8100.
Alternative scenario
The breakdown and consolidation of the price below the level of 0.7810 will let the pair go down to the level of 0.7750.
On the 4-hour chart the upward momentum as a third wave of the higher level iii is forming. Locally the development of the downward correction (iv) has ended. If the assumption is correct, the pair will grow to the level of 0.8100. The level of 0.7810 is critical for this scenario.
Main scenario
Long positions can be opened above the level of 0.7810 with the target at 0.8100.
Alternative scenario
The breakdown and consolidation of the price below the level of 0.7810 will let the pair go down to the level of 0.7750.