The price can grow.
On the 4-hour chart, a downward correction from a higher level develops as wave 2. Now wave a of 2 has been formed, and the development of wave b of 2 has begun. If the assumption is correct, then the pair will grow to the level of 0.9762–0.9864. In this scenario, the critical stop loss level is 0.9599.
Main scenario
Long positions will be relevant during the correction, above the level of 0.9599 with the target at 0.9762–0.9864. Implementation period: 7 days and more.
Alternative scenario
Breakdown and consolidation of prices below the level of 0.9599 will allow the pair to decline to the level of 0.9524.
Trade
Scenario
Weekly period
BUY recommendation
Entry point 0.9662
Take Profit 0.9762, 0.9864
Stop Loss 0.9599
Key levels are 0.9524, 0.9599, 0.9762, 0.9864
Alternative scenario
SELL STOP recommendations
Entry point 0.9590
Take Profit 0.9524
Stop Loss 0.9640
Key levels are 0.9524, 0.9599, 0.9762, 0.9864