There is a huge battle going on in this pair right now. The break out of the congestion between 1.1070 and 1.0450 it is likely to cause a big move.
Stay tuned, I will keep posting daily updates of this analysis. Regards
It does not mean that the hourly chart was bullish throughout the day. It means that there must have been hidden selling on that day. That is the only cause for that bar to have the spread, the volume and the close price it has.
If you use smaller time frames, you can use this information to find alignment between the analysis of the smaller and the bigger time frame. That will allow you to find higher probability setups.
I would recommend that you read Tom Williams and Gavin Holmes. Only a few people understand the markets like they do. Good luck on your learning.