EURUSD Bearish Continuation After Trend Break
Quick Summary
EURUSD remains bearish after the strong sell-off since the start of the week, the Price is expected to continue lower toward 1.17028 after this level Buy positions will only be considered as a mitigation move if a clear retracement target appears
As long as no corrective objective is visible the bearish view remains valid especially after the H4 bullish trendline break
Full Analysis
After the strong downside move that started at the beginning of the week EURUSD continues to show clear bearish strength
The break of the bullish trendline on the H4 timeframe confirms that the previous upside structure has weakened and that sellers currently showed their strength
Based on the current structure price is expected to continue its decline toward the low at 1.17028
This level will be important to monitor as it may act as a reaction zone
From my perspective any buying opportunity would only be considered as a corrective move and not a trend reversal
This means that long positions will only make sense if a clear retracement target or liquidity objective becomes visible.
If price reaches 1.17028 without showing a clear corrective setup or reaction then the bearish bias will remain unchanged
Until proven otherwise the expectation stays aligned with continued downside pressure following the H4 structure break