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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.
Follow the Shrimp 🦐
Nota
syot kilat perfect bullish impulse
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syot kilat new recent high
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syot kilat upward move as epxected
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syot kilat consolidation phase at the top of the trend
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syot kilat slow retracement to the support area
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