Key Supply Levels Could Trigger Euro Dollar's Next Wave Down or Unexpected Bullish Rebound

And that means this key high and this key high of the high of the uptrend and the high of the downtrend now act as supply levels. So if they manage to hold, I believe the euro, if it completes ABCD correction or a range and breaks it down, should open the doors for next wave to the downside. But there is an alternative scenario, as I said before, because the higher timeframe is not completed cycle. What could happen here is that if the EURUSD managed to actually hold the supportive levels and starts to rebuild its bullish structure by making sequence of higher highs, higher lows, places itself above the volume profile balance zone, that could be taken as a bullish signal. And in that case, we can expect the EURUSD pushing further on within this channel and climb finally to above the 1.20. So again, I give about 60-70% to the bearish one.