On the 4-hour chart, a sideways trend is observed, the instrument moves within the channel formed by the boundaries of Bollinger bands, the price range is narrowed. The MACD histogram is in the positive zone, while maintaining a moderate signal to open long positions. Stochastic is in the neutral zone, the oscillator lines reversed upwards from the border with the oversold zone.
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The pair may grow.
On the 4-hour chart, the first wave 1 develops within the started third wave (3) of the higher level. Now, a downward correction has ended as the wave iv of 1, and the fifth wave v of 1 develops, within which the third wave of the lower level (iii) of v is forming. If the assumption is correct, the pair will grow to the levels of 1.3275–1.3387. In this scenario, critical stop loss level is 1.3026.
The pair may grow.
On the 4-hour chart, the first wave of the higher level 1 of (1) of 3 develops, within which the formation of the third wave iii of 1 started. Now, the first entry wave (i) of iii has formed, and the local correction (ii) of iii has ended. If the assumption is correct, the pair will grow to the levels of 1.1176–1.1252. In this scenario, critical stop loss level is 1.0981.
The pair may fall.
On the daily chart, an upward correction of the higher level developed as the second wave ii of 1 of (3), and the third wave iii of 1 of (3) forms. Now, the local correction of the lower level (ii) of iii has ended, and the formation of the wave (iii) of iii has begun, within which an entry momentum has formed as the wave i of (iii). If the assumption is correct, after the end of the correction ii of (iii), the pair will fall to the levels of 0.9717–0.9656. In this scenario, critical stop loss level is 1.0022.