The EUR/USD chart currently demonstrates a bearish momentum, indicating a downward trend in the market. There is a potential for a bearish continuation towards the 1st support level at 1.0847, which is identified as an overlap support. Additionally, the 2nd support level at 1.0789 acts as an overlap support, coinciding with the 61.80% Fibonacci Retracement and the -27% Fibonacci Expansion, indicating Fibonacci confluence.