EURUSD has been in a bullish trend on H4, forming higher highs and higher lows. The over all trend on higher time frames still seems to be bearish but on the H4, it is still bullish and we will buy from the support level to continue seeing another bullish leg upwards.

The descending trendline has broken out for buys and the market has validated the whole structure for the buys. 

We just need a slight retracement on the pair at the support level in order for the market to ramp up to form another higher high.

The retracement level of 61.8% is in confluence with the support level. This area technically is a strong foothold for the market to move another leg up.

EMA 50 is being tapped at the support level, conjuring the market at the support. This area needs to be formed in order for the market to align with other tecnical parameters.

RSI is at 45. We anticipate the market falling into the over sold region and form a bullish divergence. There, we will be aligned with other technical parameters.

Waiting on EURUSD

Vasl Capital

Nov 29 2022

Pending

Published 71d ago

1.07597

Current price

1.02457

Entry price