The pair may grow.
On the daily chart, the development of the third wave of the higher level (3) began, within which the first wave 1 of (3) forms. Now, a local correction has developed as the wave ii of 1, shaped as an irregular flat, within which the wave (c) of ii has formed. If the assumption is correct, the pair will fall within the wave iii of 1 to the levels of 0.9656–0.9556. In this scenario, critical stop loss level is 1.0022.
Main scenario
Short positions will become relevant during the correction, below the level of 1.0022 with the targets at 0.9656–0.9556. Implementation period: 7 days and more.
Alternative scenario
The breakout and the consolidation of the price above the level of 1.0022 will let the pair grow to the levels of 1.0121–1.0228.
Scenario
Timeframe Weekly
Recommendation SELL
Entry Point 0.9963
Take Profit 0.9656, 0.9556
Stop Loss 1.0022
Key Levels 0.9556, 0.9656, 1.0022, 1.0121, 1.0228
Alternative scenario
Recommendation BUY STOP
Entry Point 1.0030
Take Profit 1.0121, 1.0228
Stop Loss 1.0000
Key Levels 0.9556, 0.9656, 1.0022, 1.0121, 1.0228
On the daily chart, the development of the third wave of the higher level (3) began, within which the first wave 1 of (3) forms. Now, a local correction has developed as the wave ii of 1, shaped as an irregular flat, within which the wave (c) of ii has formed. If the assumption is correct, the pair will fall within the wave iii of 1 to the levels of 0.9656–0.9556. In this scenario, critical stop loss level is 1.0022.
Main scenario
Short positions will become relevant during the correction, below the level of 1.0022 with the targets at 0.9656–0.9556. Implementation period: 7 days and more.
Alternative scenario
The breakout and the consolidation of the price above the level of 1.0022 will let the pair grow to the levels of 1.0121–1.0228.
Scenario
Timeframe Weekly
Recommendation SELL
Entry Point 0.9963
Take Profit 0.9656, 0.9556
Stop Loss 1.0022
Key Levels 0.9556, 0.9656, 1.0022, 1.0121, 1.0228
Alternative scenario
Recommendation BUY STOP
Entry Point 1.0030
Take Profit 1.0121, 1.0228
Stop Loss 1.0000
Key Levels 0.9556, 0.9656, 1.0022, 1.0121, 1.0228
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.