The pair can grow.
On the 4-hour chart, the downward correction of the higher level developed as a wave (2), and the development of the third wave (3) begun. Now the first wave of the lower level i of 1 of (3) is forming, within which the wave (v) of i is developing. If the assumption is correct, the pair will grow to the levels of 1.3364–1.3474. In this scenario, critical stop loss level is 1.3026.
Main scenario
Long positions will become relevant during the correction, above the level of 1.3026 with the targets at 1.3364–1.3474. Implementation period: 7 days and more.
Alternative scenario
The breakdown and the consolidation of the price below the level of 1.3026 will let the pair go down to the level of 1.2654.
Scenario
Timeframe Weekly
Recommendation BUY
Entry Point 1.3240
Take Profit 1.3364, 1.3474
Stop Loss 1.3200, 1.3026
Key Levels 1.2654, 1.3026, 1.3364, 1.3474
Alternative scenario
Recommendation SELL STOP
Entry Point 1.3020
Take Profit 1.2654
Stop Loss 1.3140
Key Levels 1.2654, 1.3026, 1.3364, 1.3474
On the 4-hour chart, the downward correction of the higher level developed as a wave (2), and the development of the third wave (3) begun. Now the first wave of the lower level i of 1 of (3) is forming, within which the wave (v) of i is developing. If the assumption is correct, the pair will grow to the levels of 1.3364–1.3474. In this scenario, critical stop loss level is 1.3026.
Main scenario
Long positions will become relevant during the correction, above the level of 1.3026 with the targets at 1.3364–1.3474. Implementation period: 7 days and more.
Alternative scenario
The breakdown and the consolidation of the price below the level of 1.3026 will let the pair go down to the level of 1.2654.
Scenario
Timeframe Weekly
Recommendation BUY
Entry Point 1.3240
Take Profit 1.3364, 1.3474
Stop Loss 1.3200, 1.3026
Key Levels 1.2654, 1.3026, 1.3364, 1.3474
Alternative scenario
Recommendation SELL STOP
Entry Point 1.3020
Take Profit 1.2654
Stop Loss 1.3140
Key Levels 1.2654, 1.3026, 1.3364, 1.3474