EURUSD: EUR Reaches a “Decision Zone”EUR/USDOANDA:EURUSDParadise_NoirOn the H4 timeframe, EURUSD is entering a crucial technical zone. After a recovery from the bottom around 1.1580, the price has approached the 1.1660–1.1676 area – the convergence point of the medium-term downtrend line, the Ichimoku cloud, and the supply zone that has repeatedly pushed the market downwards before. Notably, although buyers have tried to push the price up quite strongly in the last two sessions, the upward momentum has slowed down significantly upon reaching the resistance zone. The consecutive appearance of small-bodied candles around the trendline indicates that buyers are losing their initiative, while sellers are starting to react again at higher price levels. The current macroeconomic context is also not entirely supportive of EUR. The USD is regaining stability as the market awaits the US jobs report and further signals from the Fed regarding interest rates. Meanwhile, although the ECB maintains a relatively hawkish tone regarding inflation, the Eurozone economy continues to face risks of slowing growth and energy pressures. This makes it difficult for the EUR to sustain strong gains in the short term. Structurally, EURUSD has yet to break out of its medium-term downtrend. The descending trendline from the 1.1800 region remains unbroken, and the price has not yet created a sufficiently convincing breakout above 1.1676. Therefore, any current rallies are likely just pullbacks before the market resumes its decline. If sellers continue to hold the current resistance zone, EURUSD could retest the 1.1608 area in the short term. This will be a crucial support zone determining whether the market is merely undergoing a technical correction or extending into a deeper decline. Suggested trading strategy: Sell target: 1.1660 – 1.1676 SL: above 1.1700 Target: 1.1608