EURUSD : Correction Within a Broader UptrendEuro / U.S. DollarFOREXCOM:EURUSDTrading_StreamThe current structure for EUR/USD is a long-term bullish trend against a short-term bearish trend. While the broader bullish trend established in early 2025 remains intact, the price is currently within a corrective phase, a clear short-term downtrend. The key long-term support levels could be the determinant of whether this is a temporary pullback or the beginning of a more significant trend reversal. Trend Analysis Long-Term Trend (Bullish): The foundational uptrend is still in effect, primarily because the price maintain a pattern of higher lows, with the 1.1400 level acting as a critical pivot point. Also the price remains above 200-day SMA. As long as the price holds above this support area, the long-term bullish trend remains unbroken. Medium & Short-Term Trend (Bearish): in the shooter run momentum has clearly shifted to sellers. The price has broken below the 50-day SMA (around 1.16735) and is trading within a descending channel. This channel is marked by a series of lower highs (1.1778, 1.1728, 1.1668) and lower lows. Key Price Levels to Monitor - Primary Support Zone: The most critical support area is the confluence of the 200-day SMA (approx. 1.13340) and the pivot at 1.1400. A break below this zone would threaten the long-term bullish structure and could signal a major trend shift. - Primary Resistance Zone: 1. Initial resistance is between 1.1545 and 1.1575(shaded in light red). This area previously acted as support and is now a possible resistance. Also its reinforced by the falling trend line for the short term descending channel. 2. Stronger resistance is found at the 50-day SMA (approx. 1.16735) and 1.1669 lower high. Because a breakout above this area would invalidate the short term bearish structure low lowers highs. Potential Scenarios Bearish Continuation: Given the current downward momentum, the most likely near-term scenario is further downside - to test the main swing low for the long term trend at 1.14000 then around the 200-day SMA . The market's reaction here will be crucial. A failure to hold this level would open the door for a deeper correction, potentially towards 1.1270, 1.1150 then 1.1070 Bullish Reversal: The price must first find solid support at the 200-day SMA. Following that, a breakout above the descending channel and a sustained move back above the 1.1545-1.1575 resistance zone would provide the first confirmation of a potential resumption of the long-term uptrend towards 1.1980 Bottomline While the immediate path of least resistance appears to be to the downside, this is happening within the context of a larger, intact uptrend. The current price action is best viewed as a significant correction. The behavior of the price at the critical 1.13340-1.1400 support zone will be the key determinant for the next major directional move.