EURUSD has been in a ranging market lately with the formation within the range. We are looking to go long on the support level on eurusd at the price of 1.0930. This level will print another bullish impulse leg towards the upper side. The trend is bullish on higher time frames and the formation of higher highs and higher lows continues. Market can form another bullish impulse at the area of our longs.

The descending trendline is yet to be tested or broken out for buys in order to validate it. On the other hand, the ascending trendline is rejecting the price action at the level.

The retracement level of 75% is in confluence with the support level.

EMA 50 has just been pierced out of the EMA 50 and it is bullish. At the very core of it, the market will confluence with the technical factors.

RSI is at 47. It needs to hop down towards the over sold region where a bullish divergence can be formed for another bull leg.

Pending for EURUSD buys

Jan 15 2024