EURUSD is standing at the support level priced at 1.0850. We are looking to go long from here for an intraday trade till the resistance level of 1.0915. This is a 65 pip move we are willing to take based on the bullish momentum forming and the overall trend still being bullish. The market has formed the lower lows and lower highs but that does not mean, market may not retrace. 

The ascending trendline has broken out for sells and the market has already validated its confirmation. 

There is no retracement at this given time on the setup.

EMA 50 is bearish. We can extend our take profits towards the retest of the EMA 50 retest. 

RSI is at 36. This is the bearish level. If it falls more towards the over sold region with an extension, it will be a solid buy for the intraday.

Intraday EURUSD setup

May 15 2023