EURUSD Different Scenarios

After dropping significantly, EURUSD started a slow upside move and currently, price is bouncing on the ascending trend line.

There is a resistance zone around 1.1386 in yellow, which has pushed the price to the downside twice in the past.

If price breaks the purple trend line and closes a bearish candle below this line, we can expect a drop to the last major low at 1.1885

Otherwise, if price didn’t break the trend line, we expect a rise to the yellow resistance zone (1.1386), and in the case of an upside breakout and bullish candle closure above this zone, there is a probability of more rise to the next high at 1.1464