Daily: yesterday’s news determined the fate of the trend. The bulls broke through the upper Bollinger envelope and the ADX indicator came close to the trend zone. It looks like we are in for a significant distribution phase in terms of strength.

H4: the nearest resistance in the 1.1161 zone (upper Bollinger band) may put the brakes on the upside. However, a clear continuation pattern is forming, so overall the general forecast for a continuation of the upward movement will remain.

H1: significant overbought may force the market to take a little break within the upper Bollinger Band envelope (1.1124-1.1182).

Conclusions: consolidation in the range of 1.1124-1.1182.

Recommendations: Buy from the 1.1124 zone.