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Breaking below structural support near 1.15692! Are you blindly buying into this localized drop, or positioning for a relief retest into broken resistance followed by a multi-wave breakdown flush to macro support? 🤔
The Euro is accelerating its markdown expansion within a tight descending Channel on this 1-hour OANDA chart. EUR/USD is trading around 1.15692, slicing through intermediate horizontal structure—now acting as an overhead Resistance line around 1.15800. Institutional supply remains firmly in control, using every minor relief push to distribute remaining retail long positions and drive price lower toward macro trendline support. 📉💥
Look closely at the black blueprint trajectory mapping out the coming sessions. The algorithm projects a classic multi-wave rejection and breakdown sequence:
• An initial downward push followed by a relief retest pulling price back up to test broken horizontal Resistance line supply near 1.15800 to trap late shorts and sweep liquidity. 🪤
• A high-velocity institutional rejection dumping price back down to test the 1.15550 level. ⚡
• A minor reflex bounce producing a lower high back toward 1.15650 to absorb remaining retail buy orders....