HelenP. I Euro will rebound from trend line to $1.1600 points

Hi folks today I'm prepared for you Euro analytics. A structural review of the chart shows a clear change in market character. The previous long-term upward channel has been broken, and the price has since entered a corrective phase, currently guided by a descending trend line. This decline has brought the asset towards a critical area of interest: the major horizontal support zone between 1.1400 and 1.1360. My analysis for a long, counter-trend position is based on the potential for a strong bullish reaction from the confluence of this historical support zone and the descending trend line. I believe that as the price reaches this intersection, the current selling momentum is likely to be absorbed by significant underlying demand. The main condition for this scenario is a clear and forceful rejection of lower prices from this zone, which would signal that buyers are stepping in to defend this critical level. A confirmed bounce would likely initiate a significant relief rally, and therefore, the primary goal for this move is set at the 1.1600 level, a logical first target for a corrective bounce of this nature. If you like my analytics you may support me with your like/comment.❤️

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FirstNameHelen

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FirstNameHelen

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