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Wave analysis and forecast: The pair is expected to continue its decrease.
Estimated pivot point is at the level of 0.9765.
Analysis: A downward trend is supposed to continue forming within the third wave 3 of senior level within the 4-hour time frame. Apparently, an ascending correction in a form of the fourth wave iv of 3 has finished locally and the wave v of 3 has started forming, with the first counter-trend wave of junior level (i) developing inside. If the presumption is correct, the pair will continue to drop to the levels 0.9611 – 0.9500.
Estimated pivot point is at the level of 0.9765.
Analysis: A downward trend is supposed to continue forming within the third wave 3 of senior level within the 4-hour time frame. Apparently, an ascending correction in a form of the fourth wave iv of 3 has finished locally and the wave v of 3 has started forming, with the first counter-trend wave of junior level (i) developing inside. If the presumption is correct, the pair will continue to drop to the levels 0.9611 – 0.9500.
