EURUSD has been in a bullish trend forming higher highs and higher lows. The price to go long is at 1.1250. The price will become support after its broken out from the range and retested at the support. The trend is bullish enough to make the bullish impulse for the further 100-200 pips.

The ascending trendline is on the verge of retesting and rejecting the support level if it is retested.

There is no retracement setup on this pair and setup.

EMA 50 is bullish, which means the trend is still bullish but it does not mean that the market will retest the EMA 50 at the support level.

RSI is at 59. It needs to neutralize itself at the 50 level in order for the market to align with the technical factors.

EURUSD breaking out of the range

Jul 18 2023