EURUSD: Rejection at 1.1630 — Move Toward 1.1550 in FocusEuro / U.S. DollarFOREXCOM:EURUSDRatnerHello everyone, here is my breakdown of the current EURUSD setup. Market Analysis EURUSD previously traded inside a descending structure before breaking above the triangle resistance and shifting bullish. Price then formed a range before breaking higher and moving into a downward channel. The recent recovery toward the 1.1630 Resistance Zone was rejected, keeping sellers in control. Currently, EURUSD is trading around 1.1600 below the 1.1630 Resistance Zone while remaining inside the downward channel. Price is also holding above the 1.1550 Support Zone, making this area important for the next move. My Scenario & Strategy As long as EURUSD remains below the 1.1630 Resistance Zone and respects the downward channel, the bearish scenario remains valid. A continuation lower could push price toward the 1.1550 Support Zone (TP1). However, a breakout and close above the 1.1630 Resistance Zone would weaken the bearish outlook and increase the risk of further upside. That’s the setup I’m tracking. Thank you for your attention, and always manage your risk.