Possible upward movement of the pair. Price is currently in a lower bound trading zone with significant volume making stops and holding rejections at the bottom of the price near the 55 period EMA, essential in my strategy for analysis of potential trend continuations. Indicators like Squeeze Momentum and the MACD histogram have turned bullish after their red valley; accompanied by the loss of bearish strength indicated by the ADX rebounding towards the EMA. The MACD lines would be giving a possible buy signal soon. I think he might go looking for the previous high price zone as he comes across indications of a bounce move higher on the 4-hour chart. In timeframes of 1 hour we see that it has broken the bearish structure, forming higher lows than the previous ones.
Trade closed manually