EURUSD has been in a bearish trend on the lower time frames but on the higher time frames, its still bullish. The market is marking at the order block from where the prices can move up at the price of 1.0790. The swing point is really steep and the market can continue moving up towards the previous high.

The descending trendline is still far from the current market price and once the breakout is induced, the market can continue moving up after the breakout buy.

EMA 50 is still bearish and once the market starts to bounce from the EMA 50 towards the bullish side, the market will continue.

RSI is at 58. It needs to neutralize at the 50 level in order to align with the technical factors.

EURUSD stacks

Feb 01 2024