The EURUSD movement on the 1-hour chart is still indicating a strong bearish trend as we approach the evening session. The price continues to decline after breaking through the bullish channel, signaling that seller dominance is still steering the market direction. The price action structure forming a Lower High – Lower Low (LH–LL) pattern reinforces the ongoing selling pressure, as buyers have yet to mount a significant defense. This situation illustrates that the bearish momentum remains robust, and the likelihood of a drop towards the next support level is increasingly wide open.
From a technical perspective, the sharply declining Moving Average (MA) indicator, along with a ZigZag pattern consistently creating new lows, supports further depreciation projections. As long as the price remains below the MA line and fails to break back above the nearest resistance area, bearish potential will continue to dominate in the short term. With market sentiment still favoring sellers, EURUSD is likely to continue its downward trajectory to test significant support zones before potentially entering a consolidation or technical rebound phase.
Recommended
Recommended
Recommended
Recommended
On the 15-minute chart, EURUSD is still situated within a bearish channel, indicating that the chances of further declines remain quite strong. Although the Moving Average (MA) line appears to be flattening slightly, the price direction continues to reflect seller dominance. This condition reinforces that sellers retain control over market movements, especially leading into the evening US session where the currency pair could potentially continue to weaken to test the support level around 1.14710.
Technical Reference: sell as long as it’s below 1.15590
Potential Stop Loss 1: 1.15440
Potential Stop Loss 2: 1.15590
Potential Take Profit 1: 1.14850
Potential Take Profit 2: 1.14710
