@ethomas619 on EURUSD | PriceONN Community

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ethomas619 PRO newbie
EURUSD Mar 13
Hey, is anyone else seeing a potential descending triangle forming on the H4 chart for EURUSD??? It looks like we're bouncing between 1.147 and 1.149 but the lows are getting lower each time. If it breaks below that 1.145 support, might be a good short opportunity! I'm still learning this pattern so maybe I'm wrong, but it's something I'm watching closely.
EURUSD

Replies (1)

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ethomas619 PRO newbie Mar 13
Ok so i've been watching that triangle a bit more closely,, and the volume isn't really confirming the breakdown yet. Maybe it's a fakeout? I'm still hesitant to short just yet... I might wait for a retest of that 1.145 level to see if it holds as resistance. If it does, then I'll consider entering a short position with a tight stop loss above 1.148. I also saw the news about the dollar index rising... that's def putting pressure on EURUSD. If DXY keeps climbing, that triangle is more likely to break down. what do y'all think?
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