The pair may grow.
On the 4-hour chart, a downward correction of the higher level developed as the wave 2, within which the fifth wave 5 of (C) of 2 formed as a zigzag. Now, the development of the third wave of the higher level 3 is beginning, within which the entry momentum of the lower level i of 1 of (1) of 3 has formed, and the third wave iii of 1 is developing. If the assumption is correct, the pair will grow to the levels of 1.1163–1.1249. In this scenario, critical stop loss level is 1.0927.
Main scenario
Long positions will become relevant during the correction, above the level of 1.0927 with the targets at 1.1163–1.1249. Implementation period: 7 days and more.
Alternative scenario
The breakout and the consolidation of the price below the level of 1.0927 will let the pair go down to the levels of 1.0850–1.0800.
Scenario
Timeframe Weekly
Recommendation BUY
Entry Point 1.1005
Take Profit 1.1163, 1.1249
Stop Loss 1.0927
Key Levels 1.0800, 1.0850, 1.0927, 1.1163, 1.1249
Alternative scenario
Recommendation SELL STOP
Entry Point 1.0920
Take Profit 1.0850, 1.0800
Stop Loss 1.0955
Key Levels 1.0800, 1.0850, 1.0927, 1.1163, 1.1249
On the 4-hour chart, a downward correction of the higher level developed as the wave 2, within which the fifth wave 5 of (C) of 2 formed as a zigzag. Now, the development of the third wave of the higher level 3 is beginning, within which the entry momentum of the lower level i of 1 of (1) of 3 has formed, and the third wave iii of 1 is developing. If the assumption is correct, the pair will grow to the levels of 1.1163–1.1249. In this scenario, critical stop loss level is 1.0927.
Main scenario
Long positions will become relevant during the correction, above the level of 1.0927 with the targets at 1.1163–1.1249. Implementation period: 7 days and more.
Alternative scenario
The breakout and the consolidation of the price below the level of 1.0927 will let the pair go down to the levels of 1.0850–1.0800.
Scenario
Timeframe Weekly
Recommendation BUY
Entry Point 1.1005
Take Profit 1.1163, 1.1249
Stop Loss 1.0927
Key Levels 1.0800, 1.0850, 1.0927, 1.1163, 1.1249
Alternative scenario
Recommendation SELL STOP
Entry Point 1.0920
Take Profit 1.0850, 1.0800
Stop Loss 1.0955
Key Levels 1.0800, 1.0850, 1.0927, 1.1163, 1.1249
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.