Since May 22. price appears to have been contained within a bearish trend channel, with price reversing each time it has approached either trend line. However, from a macro perspective, EURUSD has been moving within a bullish trend channel since the December 3. rate hike. Price appears to be approaching the lower trend line, as the macro perspective suggests it does. Would have to wait for a close on the 4HR within the micro trend channel. A close outside of this channel may suggest bullish movement. Trade looks valid on 6HR but bullish momentum appears to strong on the daily chart. SL to be placed around 1.19 with TP at 1.11, if price closes within channel line and shows signs of reversal.
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