Tangible bullish momentum, which can be observed before the afternoon today might be deceptive: right now resistance level 14.5458 is being tested, which is going to be very tough to overcome.
Thus an option with downward pullback from 14.5458 (black arrow) is the main scenario for today. And if bulls cope with the barrier at 14.5458 after all, they might get a good bonus in the shape of free room up to resistance 14.8670 (red trajectory).
Locally we note an attempt to break upper Bollinger band suggesting continuation of growth. However any trend activity of ADX indicator is absent here, therefore there is a high probability of downward reversal from resistance 14.5458. Target of downward correction will lie at middle Bollinger band (14.4115).
On hourly chart we have a growth of ADX curve, but trend zone is relatively distant so far. Besides such setup as “break of Bollinger band” very often is executed via prior pullback to the middle band (14.4400-14.4522 zone). It’s the most optimal mid-term buy entry point. And today short trades might be quite appropriate reckoning on decline toward this zone.
So, we expect touch of 14.5458 and then decline in direction 14.4400-14.4522.
Shorts from 14.5458 to 14.440-14.4522.