EURUSD

Jun 11

Hello Traders! 👋

What are your thoughts on EURUSD?

The EURUSD pair remains under selling pressure and continues to trade within a clear bearish structure. Price is holding below the descending trendline, which has capped upside attempts over recent weeks.

Following the breakdown of the key 1.1600 support area, EURUSD extended its decline toward a major Fibonacci support level around 1.1510. This level currently represents a critical support for buyers, and a decisive break below it would confirm the continuation of the broader downtrend and expose the pair to lower targets.

As long as price remains below the broken support area and the descending trendline, the overall outlook remains bearish. However, with price trading near support, a short-term corrective rebound toward the 1.1570–1.1600 resistance zone remains possible.

The preferred scenario is for price to complete this corrective move before facing renewed selling pressure from the resistance area. A rejection from this zone, followed by a break below the highlighted support level, would likely pave the way for a continuation toward lower downside objectives.

Only a sustained recovery above 1.1600, accompanied by a breakout of the descending trendline, would weaken the current bearish structure. In that case, the probability of a deeper bullish correction would increase, and this bearish outlook would become invalid.

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Jun 12

Trade active

Jun 19

Trade closed: target reached