EUR/USD 1-hour trading chart next move possible

1. Trend Breakdown:

The price was in an uptrend, as shown by the black ascending trendline.

A breakdown has occurred, with the price moving below this trendline.



2. Resistance & Rejection:

The blue horizontal line represents a resistance zone around 1.05159.

The price attempted to break above but got rejected.



3. Bearish Expectation:

The red zone represents the stop-loss area, indicating a short (sell) trade setup.

The green area is the target zone, suggesting the trader expects the price to drop toward 1.03801.

The black arrow shows the anticipated downward movement.



4. Support Levels:

The price is expected to test intermediate supports around 1.04658 and 1.04475 before reaching the final target.




In summary, the trader expects EUR/USD to drop after failing to break resistance, following a breakdown from the trendline.