EURUSD TRADING IDEA - EURUSD MOVES WITHIN A DESCENDING CHANNEL - OPPORTUNITY TO PLAY BOTH SIDES
EURUSD has been trading within a descending channel since the beginning of the month. Nearby the upper border of the channel there is SMA200 on a 30-m timeframe, pushing on the pair. Generally speaking, all major moving averages are pushing on the EURUSD, the short-term bearish trend continues, so I decided to open
🔽 a market sell order at 1.16688 with
❌a stop loss at 1.16985 and
🤑a take profit at 1.16324
Later I expect a rebound from the lower border with a potential uprise towards upper border of the descending channel.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.