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EURUSD Short-Term Outlook: We are currently discussing and analyzing the price movement of the EUR/USD pair. On Friday's 4-hour chart, we confirmed a bearish breakout with a range-bound market at the 1.16412 level. The current level is 1.17342, which is the level at which I took a short position. I am lowering the minimum price for my short position to 1.15932. However, the EUR/USD pair could also fall to the support levels of 1.14002 and 1.13832. As you can see, the first regression line, which indicates the direction of the currency and the current trend for the period in question, shows a decline at an angle of more than 30%, confirming that a downtrend is dominant. In contrast, the non-linear (convex) line used for trend forecasting shows a significant decline. Unless there are other obstacles, the EUR/USD pair is expected to be between 1.14892 and 1.14792 by 6pm.

On Friday, after the release of the nonfarm payrolls report, a signal emerged from the 1.17412 level, but the price did not pull back even at the close due to very strong selling pressure. Prior to that, there was a consolidation zone between 1.17422 and 1.17047. However, if consolidation at 1.16242 does not seem likely, the price will probably return to the lower end of the previous consolidation level, 1.16892, to test its strength, and if it recovers, the price could plummet again, potentially falling to six digits. The non-linear corrective channel has crossed the yellow line of the linear channel from below to above, indicating an uptrend. The price of this pair is currently 1.16352. The MACD and CCI indicators are currently below zero. The Stochastic oscillator is in oversold territory. The price of this currency pair could rise to 61.8% (1.16982) within the next week. Alternatively, prices could continue to fall, potentially dropping to around 138.2% (1.15762).