Estimated pivot point is at a level of 1.2152.
Main scenario: long positions will be relevant from corrections above the level of 1.2152 with a target of 1.2650.
Alternative scenario:breakout and consolidation below the level of 1.2152 will allow the pair to continue declining to a level of 1.1915.
Analysis: Supposedly, an ascending impetus continues to form inside the first wave of senior level (1) within the 4-hour time frame. Apparently, the fifth wave v of 5 is forming now, with a local correction of junior level (ii) of v nearing completion inside. If the presumption is correct, the pair will continue to rise to the level of 1.2650 once the correction has been completed. The level 1.2152 is critical in this scenario. Its breakout will allow the pair to continue declining to a level of 1.1915.
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Estimated pivot point is at a level of 1.3708.
Main scenario: long positions will be relevant from corrections above the level of 1.3708 with a target of 1.4280 – 1.4350.
Alternative scenario: breakout and consolidation below the level of 1.3708 will allow the pair to continue declining to a level of 1.3530
Analysis: supposedly, a downward correction in the form of the fourth wave iv of 5 finished developing inside the first (1) wave of senior level within the 4-hour time frame. Apparently, the first wave of junior level (i) of v of 5 is developing locally. If the presumption is correct, the pair may be expected to continue growing to the levels of 1.4280 – 1.4350. The level 1.3708 is critical in this scenario.
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Estimated pivot point is at a level of 0.9421.
Main scenario: long positions will be relevant from corrections above the level of 0.9421 with a target of 0.9612 – 0.9710.
Alternative scenario:breakout and consolidation below the level of 0.0.9421 will allow the pair to continue declining to a level of 0.9335.
Analysis: Supposedly, an ascending correction of senior level continues to develop within the 4-hour time frame in the form of the wave 2 of (3) currently shaped like a double zigzag wxy. Apparently, the wave y of 2 is now developing locally. If this assumption is correct, the pair will continue to rise to the levels 0.9612 – 0.9710. The level 0.9421 is critical in this scenario.
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Estimated pivot point is at a level of 105.40.
Main scenario: long positions will be relevant from corrections above the level of 105.40 with a target of 108.65 – 109.60.
Alternative scenario:breakout and consolidation below the level of 105.40 will allow the pair to continue declining to the levels of 104.50 – 103.50.
Analysis: Supposedly, a descending correction of senior level in a form of the wave B finished forming within the 4-hour time frame. Apparently, the wave С starts forming now, with the first wave of junior level (i) developed and the local correction (ii) completed inside. If the presumption is correct, the pair will continue to rise to the levels 108.65 – 109.60. The level 105.40 is critical in this scenario.
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Estimated pivot point is at a level of 1.2800.
Main scenario: long positions will be relevant from corrections above the level of 1.2800 with a target of 1.3131 – 1.3300.
Alternative scenario:breakout and consolidation below the level of 1.2800 will allow the pair to continue declining to a level of 1.2614.
Analysis: Supposedly, the third wave of senior level 3 of (5) continues to develop within the 4-hour time frame. Apparently, the third wave iii of 3 is forming now as an impetus, with the wave (v) of iii forming within. If the presumption is correct, the pair will continue to rise to levels 1.3131 – 1.3300. The level 1.2800 may be critical in this scenario.
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