Daily chart: Friday’s massive bearish bar, which closed well below the middle Bollinger band (109.93), leaves little chance for the bulls – with high degree of probability the pair will work out the support area 108.77-109.09 before there is an opportunity for an upward reversal.

Н4: the local lower Bollinger envelope was broken twice, which is a pronounced signal that the quotes will continue to decline. We are waiting for a fall to the area 108.77-109.07.

Н1: intraday the pair is trading down. The most optimal zone for entering sales is 109.93-110.08, where a local correction can take place against the background of strong oversold conditions.

Conclusions:
The main scenario is a decline in the direction of 109.09 and 108.77.
An alternative scenario is a rollback to 109.93-110.08 and then a decline in the direction of 109.09.
Trading decisions: sales from the zone 109.93-110.08 to 109.09 and 108.77.