The downward movement of the pair continues.
On the H4 chart, presumably the downward correction of the highest level as a wave (2) is developing. Locally, the wave C of (2) was formed, within which an upward correction as a low-level wave ii of C is developing. If the assumption is true, then after the completion of the correction, it is logical to expect the pair to fall to 1.3040 and 1.2926. The critical level and stop-loss for this scenario is 1.3476.
Main scenario
Short positions will become relevant below the level of 1.3476 with a target in the region of 1.3040 - 1.2926. Term of realization: 5 - 7 days.
Alternative scenario
Breakout of the level of 1.3476 will allow the pair to continue its growth to 1.3645.
Trade
Scenario
Timeframe Weekly
Recommendation SELL
Entry Point 1.3274
Take Profit 1.3040, 1.2926
Stop Loss 1.3476
Key Levels 1.2926, 1.3040, 1.3476, 1.3645
Alternative scenario
Recommendation BUY STOP
Entry Point 1.3480
Take Profit 1.3645
Stop Loss 1.3425
Key Levels 1.2926, 1.3040, 1.3476, 1.3645
On the H4 chart, presumably the downward correction of the highest level as a wave (2) is developing. Locally, the wave C of (2) was formed, within which an upward correction as a low-level wave ii of C is developing. If the assumption is true, then after the completion of the correction, it is logical to expect the pair to fall to 1.3040 and 1.2926. The critical level and stop-loss for this scenario is 1.3476.
Main scenario
Short positions will become relevant below the level of 1.3476 with a target in the region of 1.3040 - 1.2926. Term of realization: 5 - 7 days.
Alternative scenario
Breakout of the level of 1.3476 will allow the pair to continue its growth to 1.3645.
Trade
Scenario
Timeframe Weekly
Recommendation SELL
Entry Point 1.3274
Take Profit 1.3040, 1.2926
Stop Loss 1.3476
Key Levels 1.2926, 1.3040, 1.3476, 1.3645
Alternative scenario
Recommendation BUY STOP
Entry Point 1.3480
Take Profit 1.3645
Stop Loss 1.3425
Key Levels 1.2926, 1.3040, 1.3476, 1.3645