EURUSD: Bearish Breakdown & Retest – Target 1.1440EUR/USDOANDA:EURUSDAli_analyticsOverview The EUR/USD pair has been climbing within a well-defined ascending channel for several weeks. However, recent price action suggests a significant shift in momentum. We have witnessed a clean break below the lower ascending trendline, signaling that the bulls may finally be exhausted. Technical Analysis The Pattern: An ascending channel breakdown usually indicates a reversal of the prior uptrend. Price Action: After hitting a peak near 1.1847 (our Stop Loss level), the price aggressively broke the channel support. We are currently seeing a "break and retest" formation where the previous support is acting as new resistance. Entry Logic: The "Entry" is marked at the 1.1728 level, coinciding with a horizontal structure level and the underside of the broken trendline. Bearish Confirmation: The sharp downward move following the peak suggests strong selling pressure, and the current retracement provides a favorable Risk-to-Reward (R:R) entry. Trade Parameters Entry Zone: ~1.1728 Stop Loss (SL): 1.1847 (Placed above the recent swing high to invalidate the bearish thesis). Take Profit (TP): 1.1442 (Aligning with previous structural support from late March). Risk Management As always, wait for bearish price action (like an engulfing candle or a pin bar) on the lower timeframes (H1 or H4) at the entry zone before committing. Keep an eye on upcoming Eurozone economic data which could spark volatility. Note: Trading involves significant risk. This setup is based on technical patterns and should be used in conjunction with your own strategy and risk tolerance.