EURUSD: Rebalancing on Cloud Before Testing 1.1765+EUR/USDOANDA:EURUSDEmmaChartistHello everyone, after the sharp drop on the 25th, EURUSD formed a new low around 1.163–1.165 and is now oscillating around the cloud support. The sequence of higher lows → higher highs remains intact. The recent pullback appears as a rebalancing move, with no sudden spike in volume, alongside a thin FVG recently opened at 1.1725–1.1740. Macro Context: US government shutdown risks create uncertainty and downward pressure on the USD, while Fed expectations lean dovish – pending labour data and ISM reports, some of which may be delayed. These factors continue to support EURUSD. Key variables to monitor remain the 10Y yield and DXY; if they cool down, EURUSD finds support, but a strong USD rally may push prices to retest lower support before resuming the uptrend. Technical Scenario: The preferred scenario sees a mild dip to 1.1720–1.1710 to fill the FVG/cloud, then a rebound to test 1.1765. A solid H1 close above this level could open extension targets of 1.1785–1.1795 and further 1.1815–1.1825. What do you think – will EURUSD bounce from the shallow support, or need a deeper test before heading to 1.1790+?