EURUSD at the price of 1.0950, which is the support level. This support level can engage the bullish pressure and may push up towards the resistance level. The market is still bullish and is in the formation of higher highs and higher lows. That being said, we can see the market pushing up towards the resistance level of 1.1050.

The ascending trendline has been retested by the price action and apparently, it seems to be rejecting to move further upward.

The retracement level of 61.8% is in confluence with the support level and has the tendency to create another impulse move upwards.

EMA 50 is tapping the price action at the support. This means, it is merely rejecting the price action which can continue moving up and has other confluencing factors attached as well.

RSI is at 50, which is almost a neutralized level. This level will engage as a hollistice number for the impulse bull entry, in confluence with the technical factors.

Buying EURUSD 1.0950

Apr 17 2023