EURUSD has posed a break in market structure which may lead to a reversal in the market. The market experienced a notable bullish trend reversal on the 31st of May 2021. The bulls propelled price to 1.2250. The rally in the market was faced with multiple retracement, but the buyers were sufficient to regain strength to push price higher. 
The market is currently experiencing a major retracement. The fall in price has dipped below the previous lows formed in the market. The break in market structure has also formed lower highs after the market reached 1.2250. EURUSD is currently at the brink of reversal.
EURUSD Major Zones
Demand Zones: 1.1990, 1.2050
Supply Zones: 1.2250, 1.2150
What to Expect From EURUSD Break in Market Structure
The break in market structure could possibly escalate into a trend reversal. EURUSD would likely reach for support at 1.2050.
The Moving Averages on the chart have ceased to act as support for bullish momentum. The nine moving average (blue) and the twenty-one moving average (red) on the daily chart has crossed above the previous daily candle to signify a sell in the market.
The bearish channel has been formed on the four hour time frame. The market has broken below the previous resistance at 1.2150.
The break in market structure might just be a major market manipulation. This might be done to offset long positions. The market might still continue a rally to reach the previous months high at 1.2250.
Note: Forexschoolonline.com is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results.
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