EUR/USD: Bearish Forecast and Trading Opportunity

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The current EUR/USD chart reflects a strong bearish trend with the price below both the 34 and 89 EMAs, a clear sign of strength from the sellers. Resistance and support levels are important in this analysis: the 89 EMA is currently a major resistance, preventing any recovery in the price, while the large yellow support area on the chart, where the price has found stability, could become a bottom-fishing point for a recovery.

Also, if the price fails to find stability at the support area, we can expect the price to continue falling further.