EURUSD: Tried to Break Higher — Sellers Had Other Plans

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EURUSD: Tried to Break Higher — Sellers Had Other Plans​

Euro / U.S. Dollar FOREXCOM:EURUSD
Ratner

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

Market Analysis

EURUSD previously traded inside a triangle structure before breaking lower under the Trend Line and entering a range. Price then tested the Resistance Zone near 1.1270 with a breakout and was rejected, confirming the bearish bias.

Currently, EURUSD is trading below the 1.1270 Resistance Zone while holding above the 1.1120 Support Zone. The recent rejection and overall descending structure suggest sellers may attempt another move lower.

My Scenario & Strategy

As long as EURUSD remains below the 1.1270 Resistance Zone, the bearish scenario remains valid. A continuation lower could push price toward the 1.1120 Support Zone (TP1).

However, a breakout and close above 1.1270 would weaken the bearish outlook and increase the possibility of further upside.

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