Intensive downward wave, triggered by bearish inside bar, is in progress. We expect testing of 109.80-110.03 (middle Bollinger band), where bulls can take the driver’s seat again.
Locally a strong bearish pressure of ADX indicator is in place that also speaks for further extension of the quotes’ decline.
Hourly chart shows growth of ADX readings in favor of downtrend extension. We expect movement to 109.90-110.03.
Decline to 109.90-110.03.
Shorts to 109.90-110.03.