Bears Target Support at 1.1120 | XAUUSD 24/10Euro vs US DollarFXPRO:EURUSDAdrian_NovaTraderEURUSD remains under strong bearish pressure on the H4 chart, with consecutive BOS confirming a persistent downward structure. After dropping sharply from the 1.1600 area, price has entered consolidation around 1.1200. Recent recovery attempts have struggled to establish a sustained bullish structure, suggesting that the market may be preparing for another test of lower support. My primary outlook for today is bearish, but I do not expect a straight-line decline. Price may first retrace toward nearby resistance before continuing lower. The critical question is whether the 1.1115–1.1140 demand zone can hold or whether sellers will force a decisive breakdown. 📍 Key Levels Major BSL: 1.1690–1.1710 Upper POI: 1.1620–1.1650 H4 OB: 1.1535–1.1560 Intermediate OB: 1.1350–1.1375 Major Supply: 1.1250–1.1280 Near-Term Resistance: 1.1220–1.1240 Current Reaction Area: 1.1190–1.1210 Major Demand / OB: 1.1115–1.1140 🔴 Primary Scenario — Bearish Continuation The preferred setup is to wait for a recovery into resistance and look for bearish confirmation. A rejection near 1.1220–1.1250, followed by a lower-timeframe bearish MSS and displacement, would support continuation toward the lower support zone. Potential setup: Entry zone: 1.1230–1.1240 after confirmed rejection Stop Loss: 1.1285 TP1: 1.1200 TP2: 1.1160 TP3: 1.1130 The first objective is a retest of the current consolidation's lower boundary. If bearish momentum expands, price could move toward 1.1160 and then test the 1.1115–1.1140 demand zone. This setup is invalidated if price breaks above the supply area and establishes sustained bullish structure above 1.1280. Do not enter simply because price touches resistance; the rejection and structural confirmation are essential. 🟢 Alternative Scenario — Demand Zone Rebound If price reaches 1.1115–1.1140 and holds, a short-term recovery may develop. This area combines the marked H4 OB and support, making the reaction there important. Potential setup: Entry zone: 1.1125–1.1135 after a bullish MSS Stop Loss: 1.1095 TP1: 1.1160 TP2: 1.1200 TP3: 1.1240 For this scenario, price must demonstrate a clear bullish reaction rather than merely touching support. A strong displacement move followed by a successful retest would provide better evidence of a recovery. Even if this setup activates, the broader H4 structure remains bearish until a meaningful bullish shift develops. This scenario is invalidated by a decisive breakdown below 1.1115 without a prompt reclaim. 📊 Today's Directional Outlook My primary bias remains bearish while EURUSD trades below the 1.1250–1.1280 supply zone. The most likely path to monitor is a modest retracement toward 1.1220–1.1240, followed by a potential rejection and renewed pressure toward 1.1160 and 1.1130. There are three key developments to watch today: If price remains below 1.1220 and breaks the recent intraday lows, downside momentum may accelerate. If price retraces into 1.1230–1.1240 and forms a bearish MSS, the rejection setup becomes more relevant. If price reaches 1.1115–1.1140, watch for either a confirmed rebound or a decisive breakdown. A sustained break would shift attention toward lower prices, but new downside objectives should be established from fresh price structure rather than assumed in advance. A sustained reclaim above 1.1280 would weaken the immediate bearish thesis and require reassessment.