EUR/USD Outlook: Bearish Momentum Below Key Pivot

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EUR/USD Analysis

The EUR/USD price is currently consolidating below the pivot line at 1.0680, showing bearish momentum. If this bearish trend continues, the next movement is likely to test support levels below.

Scenarios:
Bearish Scenario: If the price continues to trade below the pivot line (1.0680) and breaks below the immediate support at 1.0616, it may reach down to the next support at 1.0544. A close below 1.0616 would strengthen this bearish outlook.

Bullish Scenario: For a bullish reversal, the price needs to reclaim and stabilize above the resistance line at 1.0739. This move would suggest a shift towards higher targets, potentially testing 1.0861.

Key Levels:
Pivot Line: 1.0680
Resistance Levels: 1.0739, 1.0780, 1.0861
Support Levels: 1.0616, 1.0544, 1.0470

Trend Outlook: The bearish scenario is currently more accurate as long as the price remains below the pivot line and support levels are tested.

previous idea:

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EURUSD
Update

The price dropped about 150 pip as we mentioned above, so however still running to get 1.0476

in general :
stability above 1.0544 will be bullish to touch 1.0616
Stability under 1.0467 will be bearish toward 1.0390