The trend is upward.
On the 4-hour chart the fifth wave 5 of the higher level is forming. At the moment the third wave iii of 5 is developing, within it has formed the wave (i) and ended the downward correction (ii). If the assumption is correct, the pair will grow to the level of 1.3350 within the wave (iii). The level of 1.2929 is critical for this scenario.
Main scenario
Long positions can be opened during the correction, above the level of 1.2929 with the target at 1.3350.
Alternative scenario
The breakdown and the consolidation of the price below the level of 1.2929 will let the pair go down to the level of 1.2810 and further.
On the 4-hour chart the fifth wave 5 of the higher level is forming. At the moment the third wave iii of 5 is developing, within it has formed the wave (i) and ended the downward correction (ii). If the assumption is correct, the pair will grow to the level of 1.3350 within the wave (iii). The level of 1.2929 is critical for this scenario.
Main scenario
Long positions can be opened during the correction, above the level of 1.2929 with the target at 1.3350.
Alternative scenario
The breakdown and the consolidation of the price below the level of 1.2929 will let the pair go down to the level of 1.2810 and further.