The trend is upward.
The fifth wave 5 of the higher level is developing in the H4 chart. Locally the third wave of the lower level (iii) of iii of 5 seems to be developing, within which the growth of the price is expected to continue to the level of 1.3350. A critical level for this scenario is 1.3000.
Main scenario
Buy positions may be opened from corrections, above the level of 1.3000 with target at 1.3350.
Alternative scenario
The breakdown and the consolidation of the price below the level of 1.3000 will let the pair fall to the level of 1.2800-1.2700.
The fifth wave 5 of the higher level is developing in the H4 chart. Locally the third wave of the lower level (iii) of iii of 5 seems to be developing, within which the growth of the price is expected to continue to the level of 1.3350. A critical level for this scenario is 1.3000.
Main scenario
Buy positions may be opened from corrections, above the level of 1.3000 with target at 1.3350.
Alternative scenario
The breakdown and the consolidation of the price below the level of 1.3000 will let the pair fall to the level of 1.2800-1.2700.