The Trust Layer for Market Analysts

The EUR/USD pair is exhibiting bearish sentiment based on the daily chart. After a change of character in early 2024, the price has moved lower, respecting a descending channel. Key levels to watch include the previous low around 1.1495, which, if broken, could indicate further downside pressure. The analysis suggests a potential head and shoulders pattern forming on the 4-hour and 15-minute timeframes, reinforcing the bearish outlook. However, traders should be cautious as minor upward shifts and imbalances still exist, requiring careful monitoring of price action.