EURUSD - OPPORTUNITY TO PLAY BOTH SIDES OF DESCENDING CHANNEL

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.