Daily: The currency pair is preparing to move to the upper Bollinger band, but in the resistance area of 114.74 (middle Bollinger envelope) some difficulties are likely due to the drop in the ADX trend potential.
H4: On this time frame, ADX shows the presence of a trend potential, which indicates the upcoming struggle in the area of 114.74-115.00. If buyers manage, they will find room for further growth to 100 points.
H1: One of today’s scenarios is consolidation around the upper Bollinger band (114.50-114.85).
Scenarios:
- The main one is an increase to 114.85, then a rollback to 114.50.
- Alternative – break above 115.00.
Solutions: Buy from 114.50 to 114.85 and 115.00.