Expected Scenarios for EUR/USD Movement

The EUR/USD is still moving within a general downtrend on the daily timeframe, and the pair is currently attempting some upward corrections on the same timeframe.

This current correction on the daily timeframe may target an upward move to test new supply levels aligned with the downtrend.

Expected Scenarios

If the pair reaches the daily supply levels or approaches the downtrend line, several possible scenarios will emerge.

The first scenario is a renewed decline, which is highly likely if strong sell signals appear.

The decline could target the 1.15000 and 1.14000 levels, respectively.

The second scenario is an upward move, which requires breaking through the supply levels, breaking the downtrend line, and closing above them with a daily candle.

In the event of an upward move, the pair could target the 1.17000 and 1.17760 levels, respectively.