The daily chart: a strong support zone, oversoldness, indside bar and a very active ADX - not an easy combination for interpretation.
Н4: the ultimate depth of decline can be the Area 117.55 (Lower Bollinger Band), from where a roll back into a zone of to the middle band (121.00) is possible.
Н1: the pair is locally squeezed between 118.71 and 120.44.
1) Rebounce from 118.71 towards 120.44
2) With the breakdown below 118.71 - we are waiting for decline to 117.55. Solutions:
1) We act on the basis of one of the two scenarios.