The recent price action is indeed aligning with the bearish scenario you outlined. As seen in the current H1 chart, EUR/USD has now broken below the local ascending trendline and is consolidating near the 1.1290 region. This level is showing some temporary support, but bearish momentum remains intact given the lower highs and increased volume on the downside move.
If the pair fails to reclaim the 1.1320–1.1330 zone (now likely acting as resistance), we could see further continuation toward the key support levels at 1.1276 and possibly 1.1227. I’ll be watching closely for either a breakdown below 1.1276 to confirm bearish extension, or signs of a false breakout if buyers step in with volume.
1 Like