EURUSD: Is the Long-Term Bearish Channel Still in Control?Euro / U.S. DollarFOREXCOM:EURUSDVanguardFXEcoEUR/USD Mid- to Long-Term Analysis | Weekly Timeframe As shown on the weekly chart, EUR/USD has been trading within a long-term descending channel since 2014. Throughout this period, the upper boundary, lower boundary, and median line of the channel have consistently acted as major support and resistance levels. Over the past year, the pair made several attempts to break above the channel's upper boundary. However, none of these breakouts were confirmed. After losing the 1.15782 level, followed by a break below 1.14110, the market structure shifted, confirming a bearish trend across the lower timeframes. 📉 Bearish Scenario As long as price remains below the upper boundary of the channel, the bearish outlook remains the preferred scenario. Scenario 1 If selling pressure persists and price breaks below the LQ1 liquidity zone, the next downside target is likely to be around 1.08814. Scenario 2 If bearish momentum strengthens further and price also breaks below the LQ2 liquidity zone, the next major support is expected near 1.052288. 🌍 Fundamental Outlook From a fundamental perspective, if the European Central Bank (ECB) maintains a more accommodative monetary policy than the Federal Reserve (Fed), and the monetary policy divergence continues to favor the U.S. Dollar, additional downside pressure on the Euro is likely. 📈 Long-Term Perspective Despite the current bearish bias, I consider the 1.052288 area to be a major long-term support zone. Should price show a clear market structure shift and bullish confirmation around this region, it could mark the beginning of a medium-term recovery, potentially targeting the upper boundary of the weekly descending channel. Disclaimer: This analysis is based on the current technical structure and prevailing macroeconomic conditions. Future economic data, central bank policy decisions, or a decisive break of key technical levels may invalidate this outlook. #EURUSD #Forex #TechnicalAnalysis #FundamentalAnalysis #EUR #USD #ECB #Fed #PriceAction #Trading #WeeklyChart