EURUSD BOUNCE BACK BULLISH SCENARIOEuro / United States DollarCMCMARKETS:EURUSDZickey_11 Overall Market Structure The market is currently moving within a descending channel, showing a bearish trend since the last impulse leg. Price is trading below the trendline, indicating that the sellers are still in control. However, a short-term retracement (correction) is visible, suggesting a possible pullback before the next drop. ⚙️ Key Technical Areas Resistance Area: Around 1.16680 – 1.17000 This zone aligns with the upper trendline of the channel. It’s the next possible retest area before sellers may re-enter the market. Support Area: Around 1.15000 – 1.15200 🔍 Current Price Action (1.1620) Price is attempting to form a small corrective wave (shown near the “eye” symbol). A pullback toward the minor trendline or the 1.1640–1.1668 region is expected. If the price fails to break above the trendline resistance, a new bearish impulse leg may start toward 1.1550–1.1500.