@RyanP2 on EURUSD | PriceONN Community
Is anyone else seeing a potential descending triangle forming on the EURUSD H4 chart? The series of lower highs is quite noticeable. I'm curious to know if others are considering this pattern in their analysis and what price levels they're watching for a potential breakout or breakdown. Thoughts?
Replies
I'm also paying close attention to the RSI. If it breaks below 30, it could indicate oversold conditions, which might lead to a temporary bounce. However, in the context of the descending triangle, it might just be a brief pause before the next leg down. It's a wait and see game! Keeping an eye on the volume too.
Update: I'm specifically watching the 1.1600 level. A sustained break below that could confirm the pattern and signal further downside. Let's see what happens!