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.
––––– 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.
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The descending channel lower trendline holds the price
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Nice break of the channel. Price now testing weekly support.
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price almost broke the weekly structure. Waiting for the weekly close