EURUSD Sharp Pullback - Downtrend Ahead?EUR/USDOANDA:EURUSDRocky_trade_Hello everyone, today we will analyze the EURUSD chart with a short-term downtrend. The 3-hour chart shows EURUSD is currently trading in an ascending price channel, but it has recently faced a strong pullback. After reaching a peak near 1.17300, the price has started to decline and may continue moving below the support level at 1.1680. If this level breaks, the next target will be the strong support area at 1.1580. Currently, the price adjusting within the ascending channel indicates that the short-term downtrend could continue, especially as technical indicators show signs of weakening from the previous uptrend. However, this pullback might just be a temporary decline before the trend resumes its upward move. With support at 1.1680 and the next target at 1.1580, the trading strategy could be to sell as the price approaches nearby resistance levels, placing a reasonable stop loss to manage risk. In conclusion, we can expect EURUSD to decline in the short term, but it's important to watch key support levels to determine the next entry point.