$EUL has been in a clean 4H downtrend with continuous lower highs and lower lows. Price just tapped 1.145 and is trying to stabilize around 1.16 after a sharp flush.

This move looks like a capitulation leg — fast drop, thin bids, emotional selling.

Order book now shows buyers stepping in (70%), which often happens near short-term bottoms.

Key levels:

Support: 1.145 → 1.10

Relief bounce zone: 1.26 → 1.41

Trend reversal only above: 1.57

Until 1.57 is reclaimed, this is a bounce attempt inside a strong downtrend.

EUL is at the kind of level where dead-cat bounces turn into tradable relief moves if momentum kicks in.