EURUSD tapped the support level and is continuing moving up. The support level has anchored a bullish price action which will take the market towards the resistance level. The price for this level is 1.0950. The trend is already bullish and the market is forming higher highs and higher lows. 

Market is in a bullish wedge pattern, if broken towards the bullish side, it will be validated and continue moving upwards.

The retracement level is at 78.6% which is in confluence with the support level. This gives us a solid go around for the market momentum upwards.

EMA 50 is tapping the price action on the upper side. It may retest and slide towards the support level. From the support level, another bounce up, we will see this EMA 50 breaking out.

RSI is at 51. It should dwell towards the over sold region, where a bullish divergence can be formed and the market continues to move up.

EURUSD buys from support

May 02 2023