Since May 22. price appears to have been contained within a channel, with price reversing each time it has approached either . However, from a macro perspective, EURUSD has been moving within a channel since the December 3. rate hike. Price appears to be approaching the lower , 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 movement. Trade looks valid on 6HR but momentum appears to strong on the . SL to be placed around 1.19 with TP at 1.11, if price closes within channel line and shows signs of reversal.