EURUSD: Climbs From Demand - Can Buyers Extend the Rally?Euro / U.S. DollarFOREXCOM:EURUSDRatnerHello everyone, here is my breakdown of the current EURUSD setup. Market Analysis EURUSD previously traded below a long-term descending trendline after failing to hold above a consolidation range. A fake breakout above trendline resistance was quickly rejected, triggering a strong bearish impulse that confirmed seller dominance. Later, multiple breakdowns below key support levels extended the decline toward the current demand area. Currently, EURUSD is trading above the 1.1340 Support Zone while remaining below the 1.1440 Resistance Zone. After forming a fake breakout beneath support, price entered a rising channel and started a recovery. The pair is now approaching both the descending trendline and the resistance zone, where sellers may attempt to regain control. My Scenario & Strategy As long as EURUSD remains above the 1.1340 Support Zone and continues to respect the ascending channel, the recovery scenario remains valid. A continuation higher could push price toward the 1.1440 Resistance Zone (TP1). However, if EURUSD breaks below the ascending channel and loses the support zone, the bullish outlook would weaken and another bearish leg could develop. That’s the setup I’m tracking. Thank you for your attention, and always manage your risk.