FX.co ★ MRamzan | EUR/USD

Based on the H1 chart for EUR/USD , Here is a technical analysis of the current market structure and price action: 1. Market Structure & Trend Analysis Bearish Market Structure: The chart shows a clear transition from a bullish/ranging structure into a strong bearish trend. Break of Structure . After forming a double-top or failing to secure higher highs around June 16th, price experienced a sharp, impulsive bearish drop on June 18th. This aggressive move broke cleanly below the previous major higher lows, shifting the market structure firmly to the downside. Lower Highs & Lower Lows: Following the sharp drop, price formed a temporary bottom, retraced upward to form a clear Lower High around June 22nd, and has since pushed downward again to create a Lower Low near the current price level. 2. Current Price Action Key Support Level: Price is currently hovering right around the 1.14316 mark, testing the recent swing low. Consolidation/Fading Momentum: The most recent candles at the end of the red zigzag line show a slowdown in bearish momentum, entering a minor consolidation phase just above the horizontal support level marked by the light blue line. 3. Potential Scenarios to Watch Bearish Continuation: If the current minor consolidation fails and price breaks cleanly below the recent lower low below 1.14300. the bearish trend is highly likely to continue toward the next daily or H4 liquidity pools/support zones. Short-Term Retrace mentioned / Double Bottom: Because price is struggling to immediately break the previous low, there is a chance for a short-term bounce or minor retrace mentioned back up to retest recent micro-resistance levels before any further downside. Would you like to map out potential entry zones or check the higher timeframes like H4 for major historical support levels?