This currency pair is expected to make a decision soonest. Let us see the bigger picture from the monthly Time frame.
On a monthly Time Frame, this currency pair is forming a symmetrical Triangle. A decision for a breakout is what is expected. Either to the upside or to the downside no one can tell at the moment. This best thing to d on a monthly time frame is to wait for a breakout before taking a position.
On a weekly Time Frame, there is positive correlation between the monthly and weekly time frame. The symmetrical Triangle is getting filled and I believe it is preparing for a breakout. In this scenario we can have it that the pairs is in most cases going to the upside.
On a daily Time Frame, We can clearly see this getting filled. One thing I observed in two different occasions is that after January 24th, we have not seen a new low. And, the previous High was in August of 2023. Consequently, this is a very tricky trade to enter at the moment.
On a four Hour 4H Time frame, a lot of spaces needs to be filled. The best thing to do at this moment. For now, the best thing to do is to enter a buy trade.
At this moment, I will just wait for clarity before taking a position. In trading patient is golden. It is an attribute that makes a good trader. As for me I will wait till the entire empty space is filled. This currency pair is a minor currency pair, so before taking a trade it is best to take into consideration the the lot size in relative to the account size.
NOTE
Trading is very risky
This is not a financial idea, just my analysis
Only trade with money you can afford to lose
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