Price came to a halt at the 61.8 fib of the CD leg. A bullish cypher may potentially form on the 4HR in the recent consolidation and would present a good opportunity to go long as the market establishes a higher low. Be aware the overall trend won't become bullish if price doesn't break the X point of the daily cypher completed two weeks ago.
The alternative scenario would be the market continues the recent bearish trend and breaks below 110.
The alternative scenario would be the market continues the recent bearish trend and breaks below 110.