A correction is occurring after the recent rise of the pair. This correction could be a good opportunity to get back in the recent uptrend. This correction seems to have found a support at the 50-EMA on the H4 chart. The close lower Bollinger band could also strengthen the possibility that a rebound will occur in this area. We can thus go long near 0.72000 to play this scenario. If you want to minimize the risk to a few pips, place a stop loss right under the intraday low, to protect yourselves from a further correction.
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