The movement of EURUSD on the 1-hour timeframe indicates a strengthening bearish signal as a pattern of Lower Highs (LH) and Lower Lows (LL) emerges consistently. This structure confirms that the downtrend remains dominant, with seller pressure continuing unabated. Each price rise appears to be merely a retracement phase before the selling pressure intensifies again. The downward trajectory is further supported by a steep decline in the Moving Average (MA), suggesting that the bearish momentum is solid and likely to persist.
Additionally, the ZigZag indicator aligns with the downward movement pattern, reinforcing the outlook that selling pressure will continue in the near future. As long as the price remains below the minor resistance area and fails to break through the MA line, the prospect for further declines remains wide open. If the seller pressure continues to dominate, EURUSD could test the next support area, indicating the continuation of a fully developed downtrend in the short term.
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On the 15-minute chart, EURUSD is still moving within a bearish channel, indicating substantial potential for further decline. Although the Moving Average (MA) has begun to level off slightly, the price trend still demonstrates dominant downward pressure. This condition suggests that sellers retain control, especially as the European trading session approaches, where this currency pair may continue to weaken, aiming to test the support level around 1.15055.
Technical Reference: Sell below 1.15745
Potential Stop Loss 1: 1.15630
Potential Stop Loss 2: 1.15745
Potential Take Profit 1: 1.15170
Potential Take Profit 2: 1.15055
