Short-term Momentum Building

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Price has now formed a series of higher lows in this pair.

Whilst price is still in an overall range, the short-term momentum is higher.

Price has now moved lower and is looking to push into the near term support level. This level could be a solid level to look for potential long trades.

The other potential trading opportunity is looking for price to breakout higher with this recent momentum and make a strong leg higher.

Penafian

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