The probability of decline remains.
On the H4 chart, the downward correction of the senior level is developing as a wave (2), which includes the formation of the wave C of (2). At the moment, it seems that the formation of the third wave iii of C has begun, within which the local correction ii of C was completed. If the assumption is correct, the pair will continue to decline to 0.9724–0.9618. The critical level for this scenario is 0.9988.
Main scenario
Short positions will become relevant below the level of 0.9988 with a target in the range of 0.9724–0.9618. Implementation period: 7+ days.
Alternative scenario
Breakout and consolidation of the price above the level of 0.9988 will allow the pair to rise to the level of 1.0122.
Scenario
Timeframe Weekly
Recommendation SELL
Entry Point 0.9919
Take Profit 0.9724, 0.9618
Stop Loss 0.9988
Key Levels 0.9618, 0.9724, 0.9988, 1.0122
Alternative scenario
Recommendation BUY STOP
Entry Point 0.9995
Take Profit 1.0122
Stop Loss 0.9935
Key Levels 0.9618, 0.9724, 0.9988, 1.0122
On the H4 chart, the downward correction of the senior level is developing as a wave (2), which includes the formation of the wave C of (2). At the moment, it seems that the formation of the third wave iii of C has begun, within which the local correction ii of C was completed. If the assumption is correct, the pair will continue to decline to 0.9724–0.9618. The critical level for this scenario is 0.9988.
Main scenario
Short positions will become relevant below the level of 0.9988 with a target in the range of 0.9724–0.9618. Implementation period: 7+ days.
Alternative scenario
Breakout and consolidation of the price above the level of 0.9988 will allow the pair to rise to the level of 1.0122.
Scenario
Timeframe Weekly
Recommendation SELL
Entry Point 0.9919
Take Profit 0.9724, 0.9618
Stop Loss 0.9988
Key Levels 0.9618, 0.9724, 0.9988, 1.0122
Alternative scenario
Recommendation BUY STOP
Entry Point 0.9995
Take Profit 1.0122
Stop Loss 0.9935
Key Levels 0.9618, 0.9724, 0.9988, 1.0122