EURUSD continues to trade within a well-defined descending channel on the H1 timeframe, maintaining its overall bearish market structure. The latest recovery move has brought price back toward the upper boundary of the channel, where trendline resistance is once again attracting selling interest.
The series of lower highs and lower lows remains intact, suggesting that the recent bullish momentum is corrective rather than the beginning of a trend reversal. Price rejection near resistance reinforces the possibility of another downside leg if buyers fail to achieve a sustained breakout.
As long as the descending channel remains respected, the bias favors sellers. A continuation of the current structure could see EURUSD extending its move toward the lower boundary of the channel in the sessions ahead.
The series of lower highs and lower lows remains intact, suggesting that the recent bullish momentum is corrective rather than the beginning of a trend reversal. Price rejection near resistance reinforces the possibility of another downside leg if buyers fail to achieve a sustained breakout.
As long as the descending channel remains respected, the bias favors sellers. A continuation of the current structure could see EURUSD extending its move toward the lower boundary of the channel in the sessions ahead.
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