يورو / دولار أمريكىتم تحديثه EURUSD is testing the psychological level
EURUSD has exhibited an interesting price movement recently, characterized by a breakout from a falling wedge pattern. The breakout followed the direction indicated by your arrow, indicating a potential bullish momentum in the market. Currently, the market is undergoing a crucial test of a key level on the 4-hour timeframe, specifically at 1.10. This level holds significance as it is considered a psychological level, often attracting market participants' attention.
According to Plancton's Rules, if the price successfully breaks out from this key level, it could provide a confirmation for a new long position. Traders following this strategy would consider entering the market, anticipating further upward movement. In such a scenario, the next target for the EURUSD pair could be 1.11, representing a potential price objective for the bullish move.
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Follow the Shrimp 🦐
Keep in mind.
- 🟣 Purple structure -> Monthly structure.
- 🔴 Red structure -> Weekly structure.
- 🔵 Blue structure -> Daily structure.
- 🟡 Yellow structure -> 4h structure.
- ⚫️ Black structure -> <= 1h structure.
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