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Daily chart: support level in 119.00 region (lower Bollinger band) hold bearish pressure, despite of active trend ADX. So if the price breaks it, we may expect mid-term decline towards 105.00.

On the contrary bulls have a chance to reverse the price to the upside, if support level in 119.00 won’t be broken.

Н4: there is flat within lower Bollinger envelope (108.28-109.78). As we may see, 119.00 region doesn’t seem to be strong enough, so consider only selling from 109.78 region.

Н1: here flat is within Bollinger envelopes range (108.77-109.36). ADX shows weak trend, so it is likely that main decline will occur on the next week.

Expectations:

Core scenario – flat within 108.77-109.36

Alternative scenario – drop to 108.28.

Trading signals: selling from 109.36 to 108.77 or even to 108.28

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