This pair is currently experiencing a great deal of back and forth movements. On the higher timeframes of the Monthly and weekly, we see that this pair is bearish. But on the daily and 4 hour charts, it is bullish. As if all of that is not enough divergence, the pair has come to show some bearishness on the lower timeframe of 1 hour.
As you already know, we trade in the direction of the 1 hour, and so we will pay the most attention to the 1 hour, trading it in the direction and context of the larger timeframes, none the less.
On the 1 hour chart, market took out previous liquidity target on the bearish side and is now retracing bullish. Price is expected to rally all the way into our zone, from where we will expect to find some reversal. where that plays out, we will look to find a selling opportunity