After touching its weekly support level, the EURUSD pair has entered a bullish trend, marked by higher highs and higher lows and a successful break of previous resistance. A long position is being considered from the support level at 1.0690. The breakout of the descending trendline for buys has been confirmed by the price action, and further upward momentum may be expected upon a breakout of the trendline on a lower time frame.

No retracement levels are currently present for this pair. The EMA 50 remains bullish, and although a retest of the support level is possible, it is unlikely as the market is far from the EMA 50.

The RSI is at 62, and a neutralization at the 50 level is desired before taking a long position.

In conclusion, the current trend for the EURUSD pair is bullish.

EURUSD buys from 1.0690

Mar 14 2023