@O_Ansari on EURUSD | PriceONN Community
I'm observing a potential descending triangle forming on the EURUSD charts. It reminds me of the pattern we saw back in late 2022 before the significant drop. Of course, past performance isn't indicative of future results, but it warrants careful monitoring. A break below 1.1600 could signal further downside.
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Update: The RSI is currently hovering around 42, which suggests the pair is neither overbought nor oversold. A further decrease in RSI, coupled with increased selling volume, would strengthen the bearish outlook. I'll be watching the Asian session closely for any confirmation of this pattern. Exercise caution.