EURUSD is looking for its bullish impulse once it taps the retracement level of 1.1255. We will be going lon for this position on EURUSD, given the fact, daily is also printing the bullish formation. EURUSD is technically forming a HH and HL at this current time. 

The descending trendline has been broken out and market is retracing to the support level. This support will form another descending trendline. If this breaks out, we will have a confirmation for the buys. 

At the support level, the retracement golden level is in confluence with the support level. At this level, market would bounce up from the level. 

EMA's are currently in a range bound. EMA 200 is well above the current market price, whereas, EMA 50, has been breaking up and down, hence consolidating the EMA. We will target our bullish profits at the EMA 200.

The oscillators have been at the neutral level. From these levels, there is potential for the market to further continue up, along with the price action and other technical factors.

EURUSD stands at the support level, which seems to be the strong area for the catalyst bullish momentum.

EURUSD intraday buys from 1.1255

Dec 09 2021

1