Daily chart:
The major already resides in upper Bollinger bands, that opens mid-term room for further growth in direction 108.53 (upper Bollinger band). However ADX dynamics corresponds to flat mode of the market, therefore we can expect a slide to the 107.43-107.66 area.
H4-chart:
Potential sell signal was formed from dynamic resistance 108.13 (upper Bollinger band) - bearish inside-bar. The closest target for bears appears support 107.47.
H1-chart:
Upward movement looks quite exhausted speaking for downward reversal. The range which keeps prospects for growth is 107.83-108.13 (Bollinger bands). In case of move beyond mentioned boundaries a decline scenario will be triggered in direction 107.47.
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Expectations:
Main scenario: Flat in the 107.83-108.13 range.
Alternative scenario: Decline towards 107.47.
Trading recommendations:
Shorts from 108.13 to 107.47.
