EURUSD | Descending Channel Breakout AheadEURO / U.S. DOLLARFX_IDC:EURUSDGreenfireforexEUR/USD is showing signs of a potential breakout from the descending channel after completing a 5-wave impulsive decline and forming a corrective ABC structure. 🔹 Wave (5) seems to have completed near 1.1580 🔹 Price is attempting to break the upper trendline resistance 🔹 A confirmed breakout may target the 1.1680–1.1720 zone 🔹 Failure to break could lead to another minor retest near 1.1580 This structure aligns with Elliott Wave corrective projection and a bullish reversal scenario in progress. Watch for confirmation candles and volume near the red zone (resistance box) for a potential long setup. 📊 Bias: Short-term bullish (after breakout confirmation) ⚠️ Invalidation: Below 1.1570 --- #EURUSD #ElliottWave #ForexAnalysis #PriceAction #TechnicalAnalysis #EURUSDforecast #TradingView #ChannelBreakout