EURUSD has formed a bullish 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. We will be taking the buy position from the minor support level.

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 57. 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.

Double bottom support for buys

Nov 15 2022