EURUSD on the weekly chart is on a hot level.
The market retraced back from the previous bearish leg till the 0.618 fib level and the price is ranging between the 2 weekly structures around 1.16500 and 1,19500.
On the daily chart, we can see that the price has moved inside an uptrending channel and respected the monthly descending trendline creating a channel cross.
IF the market will break above the top structure we will set a nice long order targeting he next monthly structure.
On the other hand if the price will break below we will check for a retracement move on the fib levels.
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Follow the Shrimp 🦐
Here is the Plancton0618 technical analysis , please comment below if you have any question.
The ENTRY in the market will be taken only if the condition of Plancton0618 strategy will trigger.
The market retraced back from the previous bearish leg till the 0.618 fib level and the price is ranging between the 2 weekly structures around 1.16500 and 1,19500.
On the daily chart, we can see that the price has moved inside an uptrending channel and respected the monthly descending trendline creating a channel cross.
IF the market will break above the top structure we will set a nice long order targeting he next monthly structure.
On the other hand if the price will break below we will check for a retracement move on the fib levels.
–––––
Follow the Shrimp 🦐
Here is the Plancton0618 technical analysis , please comment below if you have any question.
The ENTRY in the market will be taken only if the condition of Plancton0618 strategy will trigger.
Comment:
The descending channel lower trendline holds the price
Comment:
Nice break of the channel. Price now testing weekly support.
Comment:
price almost broke the weekly structure. Waiting for the weekly close