On the 4-hour chart, the pair is in a strong upward trend after bouncing off key support. The price is trading above moving averages, nearing the upper Bollinger Band, suggesting bullish momentum but with potential overbought conditions. The Parabolic SAR dots below the price confirm the uptrend, and the Bull Bear Power indicator shows positive values, indicating buyer control.
🔼If the price continues to rise and breaks the resistance at 1.1150, a further move towards 1.1180 is likely.
🔽Alternatively, the break down the support 1.1109 and slide to 1.1075 is likely.
🔷 😎 Choose "👍" if you expect a price rebouns and "👎" if you expect a decline.
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