The EURUSD currency pair has been displaying a steady downward trend for a considerable time period. Today, we observed a slight deviation from this trend, with a temporary pullback that tested the structural resistance level at the 38.2 percent mark on the Fibonacci retracement tool. This resistance level is a significant point that marks a crucial turning point in the market's direction. If the EURUSD fails to break through this level of resistance, we can expect a continuation of the downtrend from this point onwards.
Alternative Scenario: Currently, the price is experiencing resistance within a range of values between .50 and 38.2. To ensure a safe and informed investment decision, it is advisable to wait for a significant break above the .50 value before considering any potential buy setups. This approach can help minimize the risk of potential losses and maximize the chances of profitable returns.