**EUR/USD Bearish Breakout: Potential Drop to 1.03500**

This EUR/USD 1-hour chart indicates a **bearish breakout** from an ascending channel. Key observations:

1. **Breakout Confirmation:** Price has broken below the lower trendline of the rising channel, signaling a potential trend reversal.
2. **Bearish Momentum:** The price is retesting the broken trendline, and rejection at this level could confirm further downside.
3. **Target Zone:** The next significant support is around **1.03500**, aligning with previous structure levels.
4. **EMA Slope:** The short-term moving averages are turning bearish, adding confluence to a possible downward move.

If the price holds below the breakout zone, a short setup toward 1.03500 could be valid. A re-entry above the trendline could invalidate this bearish bias. EURUSD