EURUSD close to supportEUR/USDOANDA:EURUSDRyan_lopesMarket Structure Clear range → breakout → rally → distribution → sharp selloff Price has now returned to a previous demand zone (~1.1580–1.1600) that acted as: Prior base before the late-January rally Reaction zone where impulsive buying previously started Bearish Scenario (Higher Probability Until Proven Otherwise) If price: Fails to reclaim 1.1650–1.1680 Forms lower high on 4H Breaks 1.1580 decisively Then next downside levels: 1.1520 (minor liquidity) 1.1450–1.1480 (major demand) 1.1400 psychological A clean 4H close below support = likely continuation. Bullish Reversal Scenario For bulls to gain control: Strong bullish engulfing from support Break of 4H lower high (~1.1650+) Momentum shift with higher low formation Upside targets then become: 1.1700 1.1780 1.1850 supply But this requires structure break, not just a bounce. What To Watch Next:- 4H close behavior at 1.1580–1.1600 US economic releases this week Bond yield movements (US 10Y vs German 10Y) DXY strength/weakness