Like shown in my last EURUSD TA, we are shortly before a major bullish run. But why shouldn't we take some profit out of some short posistions, als long bearish trend continues?
As u can see in graph we are in a parallel bearish channel. We hitted the top trendline some minutes ago ... now we can expect reversal movement.
My target is around 1.164 where a bigger support zone is, and we might switch the trend. If we stay in parallel channel we got a RR of 3, which is quite amazing.