The pair is in correction. The price can decrease.
On the 4-hour chart the third wave 3 of the higher level is developing, within it the wave iii of 3 is developing. Locally the first wave of the lower level (i) of iii has formed, and the downward correction (ii) is developing. If the assumption is correct, the pair will fall to the levels of 1.3200–1.3100. The level of 1.3592 is critical for this scenario.
Main scenario
Short positions will become relevant during the correction below the level of 1.3592 with the targets at 1.3200–1.3100.
Alternative scenario
The breakout and the consolidation of the price above the level of 1.3592 will let the pair grow within the trend to the level of 1.4000.
On the 4-hour chart the third wave 3 of the higher level is developing, within it the wave iii of 3 is developing. Locally the first wave of the lower level (i) of iii has formed, and the downward correction (ii) is developing. If the assumption is correct, the pair will fall to the levels of 1.3200–1.3100. The level of 1.3592 is critical for this scenario.
Main scenario
Short positions will become relevant during the correction below the level of 1.3592 with the targets at 1.3200–1.3100.
Alternative scenario
The breakout and the consolidation of the price above the level of 1.3592 will let the pair grow within the trend to the level of 1.4000.