EURUSD Different Scenarios

Although we saw a good growth on EURUSD in the last week, we are still in the downtrend and price has been pushed to the downside after approaching to the resistance level at 1.19 (Monthly & Weekly High).

In Daily chart we can see bearish candles with lower highs and in 4H price has been rejected by 1.19 twice.

According to the bearish pressure that we are facing now, if price closes a bearish candle below the support level at 1.1850, I expect a fall at least to 1.1780 and after that there are two scenarios:

1. If price breaks the Weekly Low (1.1780) to the downside, we can expect more fall around 1.1660 (Monthly Low)
2. If price gets rejected by Weekly Low, we can expect a rise again towards 1.19 (Weekly and Monthly High) and also a high probability of an upside breakout on this level and more growth on price to 1.1970 which is the next resistance barrier.