COT (Commitment of Traders) perspective: The long contract sizes still dominate over the short with record highs. This indicates us that price still has space to move towards the weekly supply level.
The bottom weekly-trendline got respected 4 times and last time price received strong demand pressure. Now it is currently in an upside momentum towards the 1.16000 mark. The weekly supply level has been respected 3 times and in short periods of time, price got rejected down towards the bottom trendline.
After price reaches the 1.60000 level, we will update our analysis.