Peter Smith
EUR/USD has shifted into bearish territory following a clean rejection from a major supply level. The recent price action reflects strong seller control, with technical structure and macro factors both pointing toward continued downside pressure in the near term.
Recent EUR/USD price action has turned bearish, creating tension for short-term traders. The chart shows a clean rejection from a major supply level, raising questions about whether buyers can regain control.
Sellers Take Charge Near Critical Supply Zone
The 15-minute chart shows a precise tap into a supply block around 1.1583–1.1585, where price immediately met strong sell-side pressure. This confirms that institutional sellers remain active at this level. After the rejection, EUR/USD dropped sharply toward 1.1541, a key liquidity and structural demand zone. The mid-range inefficiency got filled during the upside sweep, and once that imbalance closed, buyers lost momentum.
The technical rejection aligns with current macro trends: a strengthening U.S. dollar driven by resilient data, Federal Reserve caution dampening euro demand, and weak Eurozone indicators. These factors support further downside pressure.
Key Levels Traders Are Watching
- Resistance: 1.1583–1.1585 (validated supply zone)
- Mid-range: 1.1565 liquidity area
- Support target: 1.1541
- Bullish invalidation: Sustained move above 1.1590
As long as EUR/USD stays under the supply zone, bear momentum remains dominant.
Bearish Momentum Remains in Focus
EUR/USD favors sellers after a clean rejection from the supply zone. Unless buyers reclaim control above 1.1590, the pair may drift toward lower liquidity levels. With technical structure and macro trends aligned, traders should stay cautious about long entries.
Peter Smith
