EURUSDEuro vs. US DollarFX:EURUSDAsifAwan11Current Market Structure The overall trend is still bearish on the higher timeframe after the strong sell-off. Price has been moving inside an ascending channel, which looks more like a bearish correction than a new uptrend. Price is currently testing the lower trendline of that channel. Key Levels Resistance 1.1475–1.1488 (marked gray supply zone) Upper channel around 1.1455–1.1465 before reaching the supply. Support Immediate: 1.1405–1.1410 (channel support) Major demand: 1.1325–1.1335 (lower gray zone) My Bias I remain bearish unless buyers can produce a strong breakout. Scenario 1 (Higher Probability) ⭐⭐⭐⭐☆ If price closes below the lower channel line (around 1.1405): Sell retest of the broken trendline. Targets: TP1: 1.1380 TP2: 1.1360 TP3: 1.1330 demand zone Stop-loss: Above the most recent swing high (around 1.1435–1.1440). Scenario 2 (Bullish Alternative) ⭐⭐☆☆☆ If price rejects the channel support and breaks above 1.1450, then: Expect a move into the 1.1475–1.1488 supply zone. I would look for bearish confirmation there rather than buying into resistance. Trading Advice At the current price (1.1415), I would wait. ❌ Not a good place to buy because resistance is relatively close. ❌ Not yet a confirmed sell because the channel support hasn't broken. ✅ Wait for either: A decisive 1H candle close below the channel, then sell the retest. A rally into 1.1480 supply, then look for bearish rejection. Probability Bearish continuation: 70% Bullish breakout: 30%