Hello traders! Here’s my technical outlook based on the current EURUSD (1H) chart structure. EURUSD previously traded inside a descending channel before breaking above resistance and shifting bullish. After the breakout, price formed an ascending channel and moved toward the 1.1580 Supply Zone, where sellers rejected the price.

Currently, EURUSD is trading below the 1.1580 Supply Zone while holding above the 1.1530 Demand Zone. The latest rejection suggests a possible short-term correction toward support.

As long as EURUSD remains below 1.1580, the bearish correction scenario remains valid. A move lower could push price toward the 1.1530 Demand Zone (TP1). However, a breakout above 1.1580 would weaken the bearish outlook. Manage your risk!