EUR/USD Price Action Analysis - bullish retracement pattern to be formed with key support level for direction

W1 price is located below 200 period SMA and 100 period SMA for the primary bearish with secondary ranging within 1.0500 psy support level and Fibo resistance level at 1.1713:

• bullish retracement pattern is formed by the price to be bounced from Fibo support level at around 1.05 for the local uptrend as the bear market rally to be started with 1.1095 as an intermediate target;

• descending triangle pattern with 1.0567 support level was already formed to be crossed by the price to below for the bearish trend to be continuing.

Medium-term strategy: bear market rally.
Long-term strategy: bearish market condition.

If the price will break 1.0500 psy support level so the bearish trend will be continuing up to 1.0461 as the next bearish target.
If the price will break resistance level at 1.1095 from below to above so we may see the local uptrend as the bear market rally.
If not so the price will be ranging between the levels.

Trend: