EUR/USD | First Sell, then Buy (READ THE CAPTION)EUR/USDOANDA:EURUSDAmirAliTradingWell hello folks, hope you are well. Amirali here. As you can see in the Hourly chart of EURUSD, it has been in a bearish run since Monday, dropping from 1.1787 all the way to the 1.1695 level, and is currently being traded at 1.1697, below the April 27th NWOG Low. I expect EURUSD to drop further towards the 4h Bullish OB and near the April 13th NWOG Low at 1.1666 level and then bounce back up from there. Considering that the Consequent Encroachment of the April 13th NWOG sits at 1.1695, breaking above and stabilizing above this level is key for EURUSD to go back higher after reaching the Bullish OB. One other scenario that can happen is for EURUSD to use the April 27th NWOG Low as a support and bounce back up from there, going towards the cluster of NWOGs and NDOG in the 1.17 to 1.18 range. However, if EURUSD goes below the April 27th NWOG and fails at breaking above the Consequent Encroachment at 1.1695, it could drop further back into the Bullish OB and even below the 1.1666, towards the 1.1650 level.