In its essence, EURUSD is still bullish throughout its time frames. The price for us to go long is at the support price of 1.0800, which could induce a flying surge on the impulse towards the resistance level. It should be noted, the trend is still bullish with the market forming higher highs and higher lows. The profit target could be set at the price of 1.0910.

The ascending trendline has broken out for sells but the market has not yet fully changed the bullish structure into the bearish one. As a result, we cannot really take into consideration the breakout sell of the trendline.

The retracement level o 61.8% is in confluence with the support level. This will act as a trickling effect on the pair.

EMA 50 is still bullish. Market is blanketing the price action up and down but ultimately, it needs to shallow in to one direction, which apparently seems to be bullish.

RSI is at 50. We reckon market to fall towards the over sold region in order to form a bullish divergence along with the technical parameters on the chart to go for the long position.

EURUSD buys from support

Apr 03 2023