H4: The chart shows an attempt to resume the upward impulse following a local correction. The currency pair is holding above the key support at 1.1700 and the 200-period simple moving average (SMA), which maintains a moderate bullish potential. The current structure resembles the formation of a “flag” pattern, indicating a possible continuation of the rally toward the April highs.

The market is awaiting crucial macroeconomic data from the US (NFP), which could lead to increased volatility. As long as the price trades above the 1.1685 level, the priority scenario remains a bounce from current levels with a target in the 1.1820 area. A close below the 1.1645 support would invalidate the current long scenario.

Trading Decision: BUY 1.1718, SL 1.1685, TP 1.1820.