Support price of EURUSD is at 1.0530. This support needs to be retested once again in order for the market to retest at this level and then continue moving up. Market has formed tripple bottom and the market has the potential to tap and then form a bullish impulse. 

The descending trendline is on the verge of breaking out for the breakout. Once it has broken out, market will validate the breakout buy with the candles opening and closing above the given trendline.

The retracement level is slightly above the support level at the level of 75%. 

EMA 50 is on the verge of breaking out from the EMA. The price action is almost tapping the EMA 50. There is a high chance of the market breaking out from the EMA 50.

RSI is at 45. The market needs to break the 50 level. Then we need to wait to retest the 50 level and then continue moving up towards the over bought region.

EURUSD buys from the support

Mar 17 2023

Pending

Published 15d ago

1.08371

Current price

1.05395

Entry price