The pair can fall.
On the 4-hour chart, the downward correction of the higher level is developing as a wave B. Now the wave c of B, within which the fifth wave (v) of c is developing, is forming. If the assumption is correct, the pair will fall to the level of 0.9570. The level of 0.9653 is critical for this scenario.
Main scenario
Short positions will become relevant during the correction, below the level of 0.9653 with the target at 0.9570.
Alternative scenario
The breakout and the consolidation of the price above the level of 0.9653 will let the pair grow to the levels of 0.9840–0.9983.
Trade
Scenario
Timeframe Intraday
Recommendation SELL
Entry Point 0.9648
Take Profit 0.9570
Stop Loss 0.9710
Key Levels 0.9570, 0.9653, 0.9840, 0.9983
Alternative scenario
Recommendation BUY STOP
Entry Point 0.9660
Take Profit 0.9840, 0.9983
Stop Loss 0.9590
Key Levels 0.9570, 0.9653, 0.9840, 0.9983
On the 4-hour chart, the downward correction of the higher level is developing as a wave B. Now the wave c of B, within which the fifth wave (v) of c is developing, is forming. If the assumption is correct, the pair will fall to the level of 0.9570. The level of 0.9653 is critical for this scenario.
Main scenario
Short positions will become relevant during the correction, below the level of 0.9653 with the target at 0.9570.
Alternative scenario
The breakout and the consolidation of the price above the level of 0.9653 will let the pair grow to the levels of 0.9840–0.9983.
Trade
Scenario
Timeframe Intraday
Recommendation SELL
Entry Point 0.9648
Take Profit 0.9570
Stop Loss 0.9710
Key Levels 0.9570, 0.9653, 0.9840, 0.9983
Alternative scenario
Recommendation BUY STOP
Entry Point 0.9660
Take Profit 0.9840, 0.9983
Stop Loss 0.9590
Key Levels 0.9570, 0.9653, 0.9840, 0.9983