Hello traders! Here’s my technical outlook based on the current EURUSD (4H) chart structure. EURUSD previously rallied inside an ascending channel before breaking below support and shifting momentum bearish. Price then formed a broad range and broke below the 1.1550 Support Zone, while the descending trendline continues to cap upside.

Currently, EURUSD is trading below the 1.1550 Supply Zone while holding above the 1.1480 Demand Zone and rising support line. The recent rebound suggests buyers are attempting to recover.

As long as EURUSD remains below 1.1550 and the descending trendline, the bearish scenario remains valid. A rejection could push price toward the 1.1480 Demand Zone (TP1). However, a breakout above resistance would weaken the bearish outlook. Manage your risk!