In our last setup, we took a loss on EURUSD. That was due to the NFP. 

EURUSD is in a bearish trend, but on the H4, it looks steady to push up for a rally run. The market has formed higher highs and higher lows. This structure will intitute the dillema of a bullish potentail impulse, breaking the previous high of the market.

The descending trendline has broken out for buys. Once broken out, we can have an added confirmation for the buys with validation.

There is no retracement indication in this particular setup.

The EMA 50 just turned bullish. This gives us an angle of the overall H4 structure of EURUSD turning bullish.

RSI is at 66. This level needs to be neautralized to fall back at the resistance turn support area. We want the RSI to be at the 50 level as the market continues to decline.

We will be holding the previous position and adding the further long positions on EURUSD. If the support is broken, we will take the loss and get out of the market.

EURUSD loss but buys again

Nov 07 2022