EURUSD at the price of 1.0970, which is the support level. Since eurusd is heavily bullish, the structure also supports it for the bullish side. We will buy the pair at the support level, with the given price. That being said, we will have to book profits at the earliest resistance.

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 59, which is the bullish region. We need to wait for the market to neutralize itself at the support level in order for the market to comply with the charts.

Still bullish on EURUSD

Apr 26 2023