EURUSD — The Recovery Failed to Change the TrendEURO / U.S. DOLLARFX_IDC:EURUSDParadise_NoirEURUSD has just made one thing fairly clear: buyers may still be able to produce a rebound, but they have not been able to change the structure. After the sharp decline from the September highs, price recovered within a relatively narrow range and formed a bearish flag. The breakdown from that pattern matters because it comes while the daily structure is still printing lower highs and price remains below the Ichimoku cloud. In other words, the market is not simply weak — it is rejecting recovery attempts at progressively lower levels. That makes the 1.1230–1.1250 area the key zone. This is where buyers would need to regain control if they want to challenge the current bearish structure. As long as EURUSD remains below it, rebounds are more likely to provide fresh liquidity for sellers than signal a genuine reversal. A firm US dollar and elevated US yields continue to limit the pair’s recovery potential. I still favor SELL. If price remains below 1.1230–1.1250 and the breakdown continues to attract follow-through selling, 1.1000 is the next area I would watch. What matters to me now is not how far EURUSD has already fallen, but the fact that buyers still have not shown they can reclaim the ground they lost.