EUR/USD 1.1607 | Fibo Confluence Setup with the DowntrendEUR/USDOANDA:EURUSDhungminskfibotrungAnalysis – EUR/USD 1.1607 | Fibo Confluence Setup in Line with the Downtrend Context: The market is maintaining its main bearish trend, and the current price structure still has room to move lower. Technical Analysis: 1️⃣ The overall trend remains bearish and stable. 2️⃣ When drawing the Fibonacci retracement in the direction of the trend, the 0.5–0.618 zone coincides with the key level around 1.1607, forming a strong confluence area. 3️⃣ This is a potential reaction zone where price may resume its downward movement if the current bearish structure remains intact. Expected Scenario: Monitor price action around 1.1607. If price shows weak reaction or continuation signals here, the downtrend is likely to strengthen further.