EURUSD: Descending Trendline Signals Further Downside To 1.1580

Hello everyone, here is my breakdown of the current EURUSD setup.

Market Analysis

EURUSD previously traded inside an upward channel, confirming strong bullish momentum. After breaking below the channel support, price entered a consolidation range near the 1.1750 area before losing momentum and reversing lower.

Currently, EURUSD is trading below the 1.1670 resistance zone while holding above the 1.1580 support zone. Price recently broke below the range support and continues to respect the descending trendline, signaling that sellers remain in control and bearish pressure is still dominant.

My Scenario & Strategy

As long as EURUSD remains below the 1.1670 resistance zone and respects the descending trendline, the bearish scenario remains valid. A continuation lower could push price toward the 1.1580 support zone (TP1).

However, if price breaks back above the 1.1670 resistance zone and reclaims the descending trendline, the bearish outlook would be invalidated, opening the path for a stronger recovery.

That’s the setup I’m tracking. Thank you for your attention, and always manage your risk.

ปิดการเทรด: ถึงเป้าหมายการทำกำไร

We see that the price without a retest fell to the indicator that we set as a target. We got our target. However, from this zone there may be a retest of the support that I was counting on earlier!

Ratner

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