In late 2022, the $4.95-$5 region acted as strong support, but in May this level has been severely strained.
The market structure is bearish OBV has made new lows Momentum is bearish
Therefore a move below $4.9 and retest of the $4.95-$5 area can offer a shorting opportunity. FVG at $5.02 could also be tested. Slightly wide stop-loss can be considered.
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