The EURUSD trend remains bullish across all time frames. The support level of 1.0850 presents an opportunity to go long, potentially causing a surge towards the resistance level. The market is still forming higher highs and higher lows, indicating a bullish trend. A profit target of 1.0910 could be set.

While the ascending trendline has been broken for sells, the market has not fully shifted to a bearish structure, so the breakout sell of the trendline should not be considered.

The retracement level of 61.8 is in place for us to go long, although it does not confluence with the support level.

 The EMA 50 is still bullish and while the market is fluctuating, the overall direction appears to be bullish.

The RSI is at 50, and it is expected that the market will fall towards the oversold region to form a bullish divergence, indicating a long position.

In conclusion, the market sentiment is bullish.

Exhaustion on EURUSD for a pullback?

Apr 06 2023