EURUSD - The market is poised to break support. Downtrend

EURUSD is forming a pre-breakdown consolidation, the goal of which may be to break through the range support and the trend line...



The breakdown of support trend lines on the D1 chart indicates a weakening of the bullish trend and the formation of a U-pattern. Global trigger at 1.1400. If the main trigger is broken, the market may shift into a global downtrend.
Locally, the dollar is strengthening, which negatively affects the euro, which is already preparing for a decline within the main downtrend.
The currency pair is testing the support level at 1.1524. Market reaction is weak, and a pre-breakout consolidation is forming following the break of the trend line.

Resistance levels: 1.1557, 1.1654
Support levels: 1.1485, 1.1466

A break of support (trigger) and a close below 1.1524 could confirm the market’s readiness to continue its decline.

Best regards, R. Linda!