EURUSD Market Analysis – Daily Timeframe 
The EURUSD movement on the daily timeframe still shows a fairly strong bearish tendency. Looking at the price structure over the past few months, selling pressure has dominated the market and caused a series of lower highs and lower lows to form. The previously fairly aggressive decline has now entered a consolidation phase in the lower area, specifically after the price weakened toward the support level 1.11139. Although there were several attempts to rise, those moves have not been able to change the main trend structure. The price is still trading below the Moving Average, which is pointing down, indicating that bearish pressure remains the dominant force. The MA being positioned well above the price also illustrates that the downtrend has not shown a significant change in direction. From the Bollinger Bands movement, it can be seen that the price previously moved along the lower band area during the decline. This condition reflects fairly consistent selling pressure. However, in recent weeks there has been a narrowing of price movement indicating a consolidation phase. The price briefly rebounded from the support area and moved up to test the resistance area at 1.12679. Unfortunately, that upward attempt failed to produce a convincing breakout. In fact, after touching that area, selling pressure reappeared and formed a bearish candle with a fairly large body. This reaction shows that the resistance area still has a strong influence in limiting price gains. As long as the price cannot break that resistance, the chances of continuing the downtrend remain fairly open. Meanwhile, the MACD indicator is still in negative territory, below the zero line, so overall market momentum still reflects bearish conditions. There has been a change in the histogram, which has started to shrink compared to the previous period. This indicates that bearish pressure has eased somewhat during the corrective phase. The MACD line has also begun to move up, but not enough to serve as confirmation of a trend reversal as it remains in negative territory. Thus, the prior rise is better viewed as a temporary correction within the downtrend, not as a signal that buyers have taken control of the market. For the projection of the next movement, the main focus is on the support level 1.11139. This area is an important defense for buyers and should be monitored because the price is approaching it again after being rejected at the resistance area. If selling pressure continues and the daily candle manages to close below that support, the probability of weakening toward lower price areas will increase. Conversely, if the support holds, EURUSD could rebound to test the nearest resistance at 1.12025 to 1.12679. However, as long as the price remains held below the Moving Average and the main resistance, I tend to maintain a bearish view. The main focus remains on confirmation of price action around the support, while observing whether selling momentum strengthens again to continue the previously existing downtrend.
