Key Reversal Zones and Expected Targets for the EUR/USD Pair

The EUR/USD pair is still moving in a downtrend on the daily timeframe. It has begun to decline again after bouncing off the downtrend and daily supply zones following the upward correction.

Let's now look at some expected scenarios for the EUR/USD's movement on the daily timeframe.

Expected Scenarios

Scenario 1: A renewed decline after bouncing off the supply zones and downtrend. In this scenario, we expect to see a drop targeting the demand zones around the 1.14500 level shown on the chart.

Scenario 2: An upward move, but this is contingent on breaking through the supply zones, breaking the downtrend, and closing above them with a daily candle.

In the event of an upward move, the pair is expected to target the next supply zones near the 1.1771 level shown on the chart.