Daily chart: the pair is preparing for the end of the downward correction, which, supposedly, can drown in the middle Bollinger band (109.44). The upside potential from this zone will be about 140 pips towards 110.83.

Н4: locally, it would also look very logical to work out the level of 109.44 before the pair is ready for growth again. Meanwhile, we note that the size of the correction below would have an abnormal size and would already indicate a potential reversal of the trend downward.

Н1: weak ADX does not allow us to count on more substantial movements today than price movements within the lower Bollinger envelope (109.44-109.86). Therefore, the forecast for the day is flat.

Conclusions: flat in the range 109.44-109.86.
Trading decisions: short-term deals in the range 109.44-109.86.