EURUSD - 27 April 2026EUR/USDOANDA:EURUSDarseniussofianTechnical Analysis – EUR/USD (Daily Structure) Market Structure EUR/USD is currently in a clear bearish trend, characterized by a sequence of lower highs and lower lows following a strong rejection from the 1.20 area. The recent price action confirms continued downside pressure, with the market forming corrective moves rather than a full trend reversal. Current Formation Price is developing a potential bearish pennant pattern, formed after a strong impulsive drop. This structure reflects: Impulse (Bearish) → Consolidation → Potential Continuation The consolidation is tightening, indicating a build-up before a breakout, most likely in the direction of the prevailing trend (bearish). Key Levels Immediate Resistance (Pennant Upper Trendline): 1.1600 – 1.1650 This descending trendline is capping bullish attempts. Current Price Area: Around 1.1530 Immediate Support (Pennant Lower Trendline): 1.1450 – 1.1480 Major Downside Target: 1.1200 A projected move based on the pennant breakdown and prior impulse. Price Action Insight Strong bearish impulse confirms seller dominance Current consolidation shows temporary balance, not reversal Repeated rejection from the upper trendline indicates persistent selling pressure This suggests the market is pausing before a potential continuation move downward. Technical Interpretation The structure aligns with a classic: Bearish Pennant Continuation Pattern As long as price remains within the pennant and below resistance, the probability favors a downside breakout. Trading Scenarios Bearish Scenario (Primary Bias) Breakdown below 1.1450 Confirmed close outside the pennant Continuation toward 1.1300 – 1.1200 Bullish Scenario (Invalidation) Break and close above 1.1650 Invalidation of the pennant structure Potential move toward 1.1800 Momentum & Behavior Momentum remains bearish overall Current consolidation = low volatility compression phase Breakout (either direction) likely to be strong and impulsive Conclusion EUR/USD is currently forming a bearish continuation pattern (pennant) within an established downtrend. The overall bias remains bearish as long as price stays below the descending resistance trendline. A confirmed breakdown from the pennant would likely trigger further downside toward the 1.1200 region.