EUR/USD has finally come to an interesting moment

Euro Dollar has finally come to an interesting moment on the border of an uptrend. Strong support still keeps the price inside the channel, but I propose to analyse the situation in more detail.

The EMA lines were crossed on the Weekly, Daily, 4-Hour and Hourly charts, which is a strong argument for a break in the trend and a further fall. Also, the MACD on the Weekly chart shows that the current trend is forming with a divergence, which also confirms the option of the price drop below the trend channel. Historical key level 1.06850 will be the most likely level that the price can approach in case of further fall and then I will consider support at 1.05300.

But also the Euro/Dollar will still be able to return to growth, but only if the current fall is the beginning of a horizontal correction, which will continue along the trend support area. Thus, it will be possible to overcome the resistance of 1.0840 and continue the growth with the background of the current oversold RSI. But I consider the growth option as less probable and I will follow in detail the levels 1.07680 and 1.07450, which will be markers for the further decline.

I also marked some levels inside the trend, which have already been overcome and left far behind, as an argument for falling or as an indicator that further possible growth will have several resistances at key levels 1.09000, 1.10150, 1.10680.
At the moment, the EMA 200 line on the Daily chart you see is the initial marker level and once it is broken without the risk of a false break, the chances of a fall will increase significantly.