Estimated pivot point is at a level of 0.9804
Main scenario: short positions will be relevant below the level of 0.9804 with a target of 0.9675 – 0.9625.
Alternative scenario: breakout and consolidation above the level of 0.9804 will allow the pair to continue rising to a level of 0.9877.
Analysis: Supposedly, an ascending correction of senior level in a form of the wave (2) continues to develop within the 4-hour time frame. Apparently, the wave A of (2) has been formed locally and a downward correction is now developing as the wave B, with the wave a of Be forming inside. If the presumption is correct, the pair will continue dropping to the levels 0.9675 – 0.9625. The level 0.9804 is critical in this scenario.
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