@matthewdavis41 on EURUSD | PriceONN Community

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matthewdavis41 PRO newbie
EURUSD Mar 11
Seeing a potential descending triangle forming on EURUSD H4 chart. Resistance around 1.1620 holding strong, and lower highs are getting printed. If it breaks down below 1.1580, could see a significant move down. Watching for confirmation before entering a short position.
EURUSD

Replies (1)

ajones973
ajones973 PRO newbie Mar 13
@matthewdavis41 I'm seeing that descending triangle too! I'm a little concerned about those oversold RSI levels though. Could signal a potential bounce before the breakdown. Maybe wait for a confirmed break and retest of that 1.1580 level before shorting? Just my 2 cents!
EURUSD 1.16167 -0.07%
GBPUSD 1.35164 -0.05%
USDJPY 155.95350 +0.10%
XAUUSD 4,396.03 -1.72%
XAGUSD 65.65 -1.94%
BTCUSD 79,958 +0.27%
SP500 6,572.87 +0.74%
BRENT 94.62 +0.42%
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