The pair may grow.
On the 4-hour chart, the first wave i of 1 develops within the started wave (C) of the higher level. Now, the third wave of the lower level (iii) of i of 1 is developing. If the assumption is correct, the pair will grow to the levels of 109.35–112.32. In this scenario, critical stop loss level is 107.44.
Main scenario
Long positions will become relevant during the correction, above the level of 107.44 with the targets at 109.35–112.32. Implementation period: 7 days and more.
Alternative scenario
The breakout and the consolidation of the price below the level of 107.44 will let the pair go down to the levels of 106.69–105.71.
Scenario
Timeframe Weekly
Recommendation BUY
Entry Point 108.21
Take Profit 109.35, 112.32
Stop Loss 107.44
Key Levels 105.71, 106.69, 107.44, 109.35, 112.32
Alternative scenario
Recommendation SELL STOP
Entry Point 107.40
Take Profit 106.69, 105.71
Stop Loss 107.75
Key Levels 105.71, 106.69, 107.44, 109.35, 112.32
On the 4-hour chart, the first wave i of 1 develops within the started wave (C) of the higher level. Now, the third wave of the lower level (iii) of i of 1 is developing. If the assumption is correct, the pair will grow to the levels of 109.35–112.32. In this scenario, critical stop loss level is 107.44.
Main scenario
Long positions will become relevant during the correction, above the level of 107.44 with the targets at 109.35–112.32. Implementation period: 7 days and more.
Alternative scenario
The breakout and the consolidation of the price below the level of 107.44 will let the pair go down to the levels of 106.69–105.71.
Scenario
Timeframe Weekly
Recommendation BUY
Entry Point 108.21
Take Profit 109.35, 112.32
Stop Loss 107.44
Key Levels 105.71, 106.69, 107.44, 109.35, 112.32
Alternative scenario
Recommendation SELL STOP
Entry Point 107.40
Take Profit 106.69, 105.71
Stop Loss 107.75
Key Levels 105.71, 106.69, 107.44, 109.35, 112.32
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.