On the 4-hour chart, a downward correction of the higher level developed as the wave (2), and the formation of the wave (3) began. Now, the first wave of the lower level i of 1 of (3) is forming, within which the fifth wave (v) of i is developing. If the assumption is correct, the pair will grow to the levels of 1.3360–1.3432. In this scenario, critical stop loss level is 1.3176.
Main scenario
Long positions will become relevant during the correction, above the level of 1.3176 with the targets at 1.3360–1.3432. Implementation period: 7 days and more.
Alternative scenario
The breakout and the consolidation of the price below the level of 1.3176 will let the pair go down to the levels of 1.3012–1.2910.
Trade
Scenario
Timeframe Weekly Recommendation BUY Entry Point 1.3224 Take Profit 1.3360, 1.3432 Stop Loss 1.3176 Key Levels 1.2910, 1.3012, 1.3176, 1.3360, 1.3432
Alternative scenario
Recommendation SELL STOP Entry Point 1.3170 Take Profit 1.3012, 1.2910 Stop Loss 1.3230 Key Levels 1.2910, 1.3012, 1.3176, 1.3360, 1.3432
La información y las publicaciones que ofrecemos, no implican ni constituyen un asesoramiento financiero, ni de inversión, trading o cualquier otro tipo de consejo o recomendación emitida o respaldada por TradingView. Puede obtener información adicional en las Condiciones de uso.