Middle Bollinger band (10701) is being tested. Lower band wasn’t broken, therefore further growth in direction 12075 is a prevailing scenario.
However in case a pinbar is formed by the close of today’s session we might get new downward wave towards 9455 (lower Bollinger band, watch the black arrow).
We note stiff support 10390 (middle Bollinger band), from where we can get a new short upward wave in direction of the pivot-zone 10873-11130.
On hourly chart the pair is being traded short as well. At the same time O&U pattern was formed with entry point at the resistance level 10779. Thus we can expect pullback to this region and following continuation of decline.
Main scenario: Upward pullback to 10779 and then decline to 10390.
Alternative scenario: Decline to 10390 without prior pullback.
Shorts from 10779 to 10390.