Daily chart: the growth of the pair may be limited by the resistance zone 104.45-104.75 (upper Bollinger band). ADX potential is negligible, so a break above is improbable.

Н4: local overbought will surely affect the bulls, which will face sales in the 104.45 zone and start taking profits. This may lead to the development of a correction in the direction of the zone 104.16 and 103.85.

Н1: the RSI oscillator has a clear divergence from the price chart, which is one of the signs of a rebalancing of power of buyers and sellers in favor of the latter. Thus, the scenario of a downward reversal from the 104.45 zone has a clear priority character.

Conclusions: growth to 104.45, then decline to 104.16.

Trading decisions: selling from the 104.45 zone to 104.16.