EURUSD had been in a strong bearish pressure, until recently, it started to range at a premium level, and has the chance for the market to break the range towards the upper side. Market has formed higher highs and higher lows and was unable to breakt the previous low. The current support is at 0.9960 which is a strong support level for the market to continue moving up.

The descending trendline is due for a breakout buy and the price action is still from the trendline. 

Market is at the all time low, therefore, we cannot ascertain any retracement level at the moment. 

EMA 50 is bearish right now after turning bullish. Market being at support has the potential for the market to tap the EMA 50 as the potential profit target.

RSI 38 is at the level of bearish region below the 50. This region needs to be in the over sold region where we can see a potential bullish divergence in order for the market to pave upwards.

EURUSD another bullish move

Sep 22 2022