EUR/USD) Bearish breakout analysis Read The ChaptianEuro vs US DollarICMARKETS:EURUSDSMC-Trading-PointSMC trading point update Technical analysis of EUR/USD on the 1-hour timeframe, likely projecting a short-term downward move. Here’s a breakdown of the technical analysis and the trade idea: --- Key Elements in the Chart: 1. Bearish Rejection from Resistance: Price was rejected twice near the 1.14400 resistance zone (highlighted in yellow). The red arrows mark double rejection at this level, suggesting strong selling pressure. 2. Break of Rising Channel: Price was previously moving inside a rising channel. Recent price action shows a clear breakdown below the lower trendline, indicating trend reversal. 3. 200 EMA (Exponential Moving Average): EMA is around 1.13188 and price is below it, reinforcing bearish momentum. EMA also acted as dynamic resistance after the channel breakdown. 4. Target Zone – Support Area: The yellow support zone around 1.10911 is the target point. This was a previous area of price consolidation and demand. 5. RSI (Relative Strength Index): RSI is near 51, hovering around the neutral zone. Not strongly bearish yet, but room remains to drop toward oversold if the downtrend continues. --- Trade Idea Summary: Bias: Bearish Scenario: Price has broken a key structure and is retesting the breakdown. Expect continuation toward the 1.10900 support zone. Entry Zone: Near current price (~1.13400–1.13500), ideally on a retest of the EMA or broken trendline. Target: 1.10911 (highlighted support level). Stop-Loss (Invalidation): A break and close back above the resistance zone (~1.14000–1.14200). Mr SMC Trading point --- Conclusion: This is a high-probability bearish setup following a structure break, retest, and double top rejection. It targets a move back down toward a previously strong support level, with a favorable risk-to-reward ratio. Pales support boost 🚀 analysis follow)