somewhat based upon the quarters theory but also based upon the price range so far this year.
As you can see - a break of the current level opens up for 1.08
but price must then make a clear break of this level and make a new low under 1.10
If this level holds we are back into range play with both an upside as well as a downside possibility as always.
Price might very well continue to range and have us keep on guessing the next big move.
I hope the chart helps illustrating that to call out a bull or bear trend is not advisable.