From TradingView · · 40s
EURUSD Bearish Pressure Intensifies
EURUSD faces potential breakdown as bearish pressure intensifies.
In brief
EURUSD faces potential breakdown as bearish pressure intensifies. EUR/USD may drop to 1.1081 if it breaks below 1.1121. Originally reported by TradingView.
Current Market Pressure
EUR/USD remains under bearish pressure forming lower highs below a descending resistance trendline.
Technical Analysis
The current recovery appears to be a corrective bounce rather than a confirmed bullish reversal.
Key Levels
Resistance levels at 1.11800 and 1.12000 support levels at 1.11200 and 1.10800.
Potential Breakdown
A break below 1.1121 could open the way toward 1.1081 while a sustained breakout above 1.1200 would weaken the bearish outlook.
The essence
EUR/USD may drop to 1.1081 if it breaks below 1.1121.
