EURUSD: Trendline Breakout & Downside TargetsEuro/US DollarFX:EURUSDMatthew_Trader1. Market Overview EURUSD has entered a clear bearish phase following a decisive breakdown of its key structural supports. After a period of range-bound price action within a consolidation zone (indicated by the green box), the market’s prior bullish narrative has been invalidated, granting sellers complete control of the near-term price direction. 2. Market Structure The critical development on the chart is the clean breakdown below the primary ascending trendline (blue line). This event, marked by the red circle and label "break out," has confirmed a significant structural shift from a bullish regime to a definitive bearish one. The subsequent price action has established a lower high, setting the stage for a continuation of lower lows, as visualized by the projected orange wave pattern. 3. Price Action & Momentum The initial momentum of the breakdown was powerful, effectively piercing through the previously established consolidation zone. Price action following the breakout suggests that any corrective moves are expected to be weak and used by institutional sellers to enter short positions at more favorable prices. The immediate focus is on the price's inability to sustain upward traction. 4. Key Zones Resistance Zone: Near the 1.1600 - 1.1620 level. This is a critical area, representing a potential retest point for the broken ascending trendline (dynamic resistance) and a swing high near the origin of the projected downward wave. This zone is expected to be strongly defended by sellers. Support/Prior Consolidation: The area within the green box (~1.1520 - 1.1600) has been successfully breached and is now considered a key flipped resistance zone. 5. Scenario The primary technical scenario is a continuation of the bearish trend. Market participants should anticipate a weak corrective bounce towards the 1.1600 - 1.1620 resistance confluence. A clear bearish rejection from this level (confirmed by a bearish price action signal or institutional order flow) will mark the next impulsive downward wave. 6. Targets Assuming the bearish scenario plays out as expected, the market is likely to move towards the following marked structural objectives: 🎯 Target 1: ~1.14819 🎯 Target 2: ~1.14416 🛑 Disclaimer: This analysis is for educational purposes only and does not constitute financial advice. All trading involves significant risk. Always employ sound risk management principles.