EURUSD is in a downtrend in higher time frame (Daily).
In the 1H time frame, we see a very strong bearish pressure on EURUSD at this moment. Price is bouncing in the correction ascending channel and has been rejected from the upper level and is dropping sharply.
Currently, price is approaching to the lower band of channel and also to the support level at 1.04690.
We should wait for the downside breakout on the channel’s lower band and the support level , then enter a sell position below 1.04690 with a target at 1.038
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