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On the H4 chart, the lateral trend persists, the instrument is trading between the lower and middle lines of Bollinger Bands; the indicator cloud is expanding, and a downtrend is likely to form in the medium term. MACD histogram is near zero line and has minimum volume; the signal line is ready to cross the zero line from above, after which a signal to open short positions will be formed. Stochastic is in the neutral zone, the oscillator lines are reversing upwards from the border with the oversold zone.
The pair may grow.
On the 4-hour chart, the third wave of the higher level (3) develops, within which the wave 3 of (3) forms. Now, the third wave of the lower level iii of 3 is developing, within which the wave (iv) of iii has formed. If the assumption is correct, the pair will grow to the levels of 1.3285–1.3515. In this scenario, critical stop loss level is 1.3011.
The pair is in a correction, a fall is possible.
On the 4-hour chart, the first wave of the higher level 1 of (3) develops, within which the wave iii of 1 formed. Now, a local correction is developing as the fourth wave iv of 1, within which the wave (a) of iv has ended. If the assumption is correct, after the end of the wave (b) of iv the pair will fall to the levels of 1.1644–1.1472. In this scenario, critical stop loss level is 1.1920.