In our last setup, we took a profit on EURUSD due to CPI.

EURUSD was 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.

The retracemenf level of 61.8% is in confluence with the resistance level. This means, we have a strong position for the buys from the support.

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

RSI is at 69. 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.

Smashed the EURUSD profit

Vasl Capital

Nov 11 2022

Pending

Published 90d ago

1.07615

Current price

1.00890

Entry price