EURUSD: Sellers Drive Pullback - 1.1670 Support in Focus

[lingriiddd]

Market Analysis

EURUSD remains in a broader bearish structure, and the recent price action is unfolding within a clear downward context. After moving through a prolonged range phase, the pair broke lower and continued to respect the descending trend line, confirming sustained selling pressure. Price later formed a Triangle Support Line, where buyers attempted to reverse the trend, leading to a breakout above the trend line and a retest of the Support Zone around 1.1670. However, after this retest, EURUSD quickly reached the major 1.1760 Resistance, which has repeatedly acted as a strong reaction zone. From this level, a sharp rejection occurred, showing that sellers are still firmly active and protecting this resistance area.

Currently, the market is pulling back from the Resistance Zone and heading back toward the Support Zone, where the ascending structure meets previous breakout levels.

My Scenario & Strategy

My scenario is bearish as long as EURUSD remains below the 1.1760 Resistance and continues to move away from this rejection zone. I expect the price to pull back toward the 1.1670 Support, where the next reaction will determine short-term direction.

Therefore, a clean breakdown below the 1.1670 Support Zone would confirm further bearish continuation and open the path toward lower levels. However, if the pair tests the support and shows a strong bounce, a short-term recovery toward the trend line may occur — but the bearish outlook remains valid while price stays under the 1.1760 Resistance. For now, the market favors sellers, with the key objective being a move back into the Support Zone around 1.1670.

That's the setup I'm tracking. Thank you for your attention, and always manage your risk.

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by

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