EURUSD can move higher? 🦐
EURUSD currency pair is trading between the 1.09500 support and the 1.10500 resistance level on the 4-hour chart. This follows a bullish run that started back in early October, where the price reached a high of 1.12000 before retracing back down to the current level.
Looking at the price action on the chart, we can see that the market has been forming a trading range between the two key levels. The 1.10500 resistance level has been tested multiple times, but the price has failed to break above it convincingly. Meanwhile, the 1.09500 support level has held strong, with the price bouncing off it on several occasions.
If we apply Plancton's strategy to this scenario, we can look for a potential long entry if the price breaks above the 1.10500 resistance level. This would signal a continuation of the bullish trend and could potentially provide an opportunity for traders to take advantage of the upward momentum.
Looking at the price action on the chart, we can see that the market has been forming a trading range between the two key levels. The 1.10500 resistance level has been tested multiple times, but the price has failed to break above it convincingly. Meanwhile, the 1.09500 support level has held strong, with the price bouncing off it on several occasions.
If we apply Plancton's strategy to this scenario, we can look for a potential long entry if the price breaks above the 1.10500 resistance level. This would signal a continuation of the bullish trend and could potentially provide an opportunity for traders to take advantage of the upward momentum.
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