EURUSD is at a hunt level at the price of 1.0820, which is also a support level. This level is strong because major liquidity lies here for the purpose of bull run. I am anticipating for the market to run a parallel taking up the liquidity. The trend is bearish right now with the formation of lower lows and lower highs. I am just taking the bet for the market at the hunt level.

The descending trendline is still far from the current price action and once the market breaks out the trendline for the bullish momentum, it will continue moving up.

The retracement level of 75% on the daily level is in confluence with the support level and may push the market. 

EMA 50 is bearish and the push up from the support level can retest the EMA 50 as a profit taking mark.

RSI 14 is at 31. It is already in a bearish over sold region to confluence with the technical analysis. Also, a bullish divergence is formed which can move the market up.

EURUSD buys from 1.0820

Jan 23 2024

Take Profit +0.87%

Holding time 20hr

1.08277

Entry price

1.09219

Take profit price