EURUSD Remains Bullish as Price Moves Upward in Fractals

EURUSD Analysis – Market’s Order Flow Remains Bullish

EURUSD remains bullish as price moves upward in fractals. The market’s order flow is now unarguably bullish. Following the second bounce on the diagonal support, the market structure shifted to the upside.Owing to the long period of downtrend before the failure swing and the market structure shift, the market’s uptrend might take a while to end.

EURUSD Significant Zones

Demand Zones: 0.9980, 0.9730
Supply Zones: 1.0360, 1.0790



Until the 0.9730 demand level finally got hit, the bears were completely adamant about giving up the market to the bulls. While there appeared to be opportunities provided for the bulls as the bears took partial profits, the market was still extremely bearish. On a daily basis, the bulls were fully in dismay as they drove the price upwards fretfully.

Another reason for this extreme bearishness could be due to the selling pressure that ensued after significant levels and psychological levels were broken. On the 30th of May, price came descending down the crest like a falling snow. This descent continued for days until September 28, 2022, when the EURUSD attained its local low.

 At the same time, EURUSD hit both the diagonal support and the previous horizontal support of 1.0360, which boosted the courage of the bulls to storm the market with their buy orders. While this incident could have been a long and promising trade for the bulls, the selling pressure at the 1.0790 resistance averted the bulls’ plan. A similar incident also occurred one month later; the price hit both the diagonal support and the previous horizontal support of 0.9980 and bounced off upward but was short-lived. Amidst all the gimmicks by the bears, the bulls have finally taken control of the market.

Market Expectation 

The 1.0360 resistance has been hit. At this point, there’s a tendency for the market to retrace into the discount array on the four-hour chart. The discount array is defined by the 50% retracement level downward. The EURUSD is expected to make a massive rally to the upside if it eventually retraces into this discount array.

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