The pair is falling.
On the 4-hour chart the formation of the upward correction as a fourth wave 4 of the higher level has ended, and the development of the fifth wave 5 has begun. Locally the first wave i of 5 of the lower level is forming. If the assumption is correct, the pair will fall to the levels of 0.9500–0.9400. The level of 0.9672 is critical for this scenario.
Main scenario
Short positions can be opened during the correction, below the level of 0.9672 with the targets at 0.9500–0.9400.
Alternative scenario
The breakout and the consolidation of the price above the level of 0.9672 will let the pair grow to the level of 0.9770.
On the 4-hour chart the formation of the upward correction as a fourth wave 4 of the higher level has ended, and the development of the fifth wave 5 has begun. Locally the first wave i of 5 of the lower level is forming. If the assumption is correct, the pair will fall to the levels of 0.9500–0.9400. The level of 0.9672 is critical for this scenario.
Main scenario
Short positions can be opened during the correction, below the level of 0.9672 with the targets at 0.9500–0.9400.
Alternative scenario
The breakout and the consolidation of the price above the level of 0.9672 will let the pair grow to the level of 0.9770.