FX.co ★ EURUSD, H4 | Respect the descending trendline?

The EUR/USD chart shows bearish momentum due to the price being below a significant descending trend line, indicating potential for more downward movement. A short-term upward move towards the 1st resistance at 1.0915 is possible, followed by a potential reversal leading to a drop towards the 1st support level. The 1st support at 1.0838 is a pullback support with historical backing during corrections.

Additionally, the 2nd support at 1.0784 is an overlap support, historically significant for potential price movements. The 1st resistance at 1.0915 is an overlap resistance, known for past price encounters, and is watched by traders for reactions.