EURUSD has broken the rising trendline that supported the entire move from late July, and price is now trading below the Ichimoku structure. That shifts the H4 picture from bullish continuation toward a deeper correction.The area I’m watching is 1.1590–1.1630. If price retests this zone and fails to reclaim it, I favor another push lower toward:
🎯 Target: 1.1510
The macro backdrop also gives sellers some support. The Dollar still has a hawkish Fed floor as markets price a meaningful chance of another rate hike, although softer US labor data means I wouldn’t chase the move aggressively.
A sustained H4 recovery above 1.1630 would weaken this bearish setup.
AURICVERSE View: the important change is not the drop itself — it’s that the trendline has finally failed. If 1.1590–1.1630 turns into resistance, 1.1510 is the next level I’m watching.
Would you sell the retest, or wait for another rejection first?
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.