@michael5237 on EURUSD | PriceONN Community
Interested to hear other traders' perspectives on EURUSD. Given the current sideways movement and the proximity of the 50 and 200 SMAs, what are your expectations for the next week? Are we anticipating a breakout or further consolidation? I'm leaning towards a short position if it fails to break the 1.1810 level.
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Update: I've been analyzing the H4 chart, and it seems a descending triangle is forming. This pattern typically indicates a bearish continuation. If the price breaks below the lower trendline, it could trigger a significant sell-off. I'll be watching the 1.1790 level closely for confirmation. Also, keep an eye on any news releases that could impact the pair.