Estimated pivot point is at a level of 0.9862.
Main scenario: long positions will be relevant from corrections above the level of 0.9862 with a target of 1.0035.
Alternative scenario: breakout and consolidation below the level of 0.9862 will allow the pair to continue declining to a level of 0.9765.
Analysis: upposedly, an ascending correction in the form of the wave (2) of senior level continues developing within the 4-hour time frame. Apparently, the first wave С of (2) is forming locally, with the first wave of junior level i of C developing inside. If the presumption is correct, the pair may be expected to continue rising to the level of 1.0035. The level 0.9862 is critical in this scenario.
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