**Monthly Chart**
The pair looks like it is in a long-term range as per the monthly chart. However, the price moved from 1.4000 (August 22 pin bar) and the paused around key area at 1.7000 and could not break it after the last high of August 2023. The price moved into narrow consolidation for the last 4 months.
Last month's candle closed bearish followed by this monthly candle of Dec 2023 which is still active and started moving lower.
**Weekly Chart**
Last week candle closed as a reversal candle after a series of downward continuation candles from 1.68000 level. This week's candle tested last week's candle and started pushing lower. Therefore, I will be looking for opportunities to short this pair.
**Daily Chart**
On the daily chart, the price had a manipulation candle after the close of Wednesday 13.12.2023. This suggest a short movement at least to test the previous support level at around 1.6200 level.
**4H Chart**
I took a short trade based on 4H timeframe as it tested the liquidity candle to presume the lower move.
The pair looks like it is in a long-term range as per the monthly chart. However, the price moved from 1.4000 (August 22 pin bar) and the paused around key area at 1.7000 and could not break it after the last high of August 2023. The price moved into narrow consolidation for the last 4 months.
Last month's candle closed bearish followed by this monthly candle of Dec 2023 which is still active and started moving lower.
**Weekly Chart**
Last week candle closed as a reversal candle after a series of downward continuation candles from 1.68000 level. This week's candle tested last week's candle and started pushing lower. Therefore, I will be looking for opportunities to short this pair.
**Daily Chart**
On the daily chart, the price had a manipulation candle after the close of Wednesday 13.12.2023. This suggest a short movement at least to test the previous support level at around 1.6200 level.
**4H Chart**
I took a short trade based on 4H timeframe as it tested the liquidity candle to presume the lower move.
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