EURUSD 06/11: Further downside?Euro vs. US DollarFX:EURUSDIndiSharkIndiShark is here! 🌊 EURUSD is consolidating near 1.11700 after a sharp decline, with no meaningful rebound so far. Continued pressure near the lows would strengthen the bearish scenario, but a confirmed breakdown remains the trigger for potential selling. My plan: 🔽 SELL: ~ 1.11685 ❌ SL: 1.12165 | ✅ TP: 1.11185 Key points 👇 ➡️ Buying interest has not produced a recovery. Despite the reported concentration of buyers near 1.11700, price remains close to support after breaking its rising trendline. A close below the short-term lows followed by a failed reclaim would strengthen the continuation scenario toward 1.11185. ➡️ Momentum confirms the decline. RSI is near oversold territory and MACD remains below zero and its signal line, supporting bearish pressure without ruling out a temporary bounce. For more information on this strategy, see the "Get Analysis Explanation" section at the bottom of this post. ➡️ Risk aversion supports the dollar. A technology-led equity sell-off is encouraging demand for the USD, while solid US economic data provides additional support. EURUSD has continued falling despite stronger German industrial production, showing that the broader market backdrop is outweighing that positive euro-area release. ⚠️ Note: The setup above represents a hypothetical analytical scenario, not a live trade signal or investment advice. Always manage your own risk.