Many traders are still short on EURUSD, this makes us want to look for buy positions. On the daily we are in a long term ascending channel where the trend has been consistently respected. We also have formed an inverted H&S pattern and have seen an impulsive move out of a possible order block region. We could see a break of the correctional bearish channel before continuation to the upside after retest of previous structure. We are in this trade now and will update the idea where necessary.
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Running +200 pips (5.17%)