EURUSD: Trading Below Descending Trend Line - Target 1.1390

Mar 13

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

Market Analysis

Price previously moved inside an upward channel before reversing sharply and breaking below the structure, confirming a shift to bearish momentum. The market then started trading under a descending trend line, forming lower highs and moving through several range consolidations, each followed by a bearish breakout.

Currently, EURUSD is retesting the 1.1510 resistance zone, which aligns with the descending trend line and a previous support level that turned into resistance.

My Scenario & Strategy

As long as price remains below 1.1510, the bearish bias remains valid. A rejection from this area could push EURUSD toward the 1.1390 support zone, which is the main downside target.

However, if price manages to break and hold above 1.1510, the bearish scenario would weaken and the market could move into a broader corrective phase.

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

Mar 15

Trade active

The price of the euro continues to decline as we expected in our analysis. It's only a little while until we reach the target we set!

Mar 16

Note

Today we see a small correction. In my opinion, after some time the pressure will continue and we will reach our target!

Mar 17

Note

The correction continued to the resistance level, if the price passes it, then the scenario is canceled!

Mar 18

Trade closed manually

We see that the price of the euro could consolidate above the resistance level, which may indicate a change in trend!