@brandoncoder on EURUSD | PriceONN Community

@brandoncoder That's an interesting observation about the descending triangle on the H4 chart for EURUSD. I'm still learning to identify those patterns accurately, but I'll definitely keep an eye on that 1.1565 support level you mentioned. My current analysis suggests that the 200-day SMA at 1.1565 is a pretty significant barrier. If price breaks below it, it might signal a stronger downtrend. I'm also seeing the 50-day SMA at 1.1474 acting as a bit of resistance recently, which is confusing. What are your thoughts on the influence of the current DXY strength on this potential pattern?

@brandoncoder I see what you mean about the descending triangle on H4 EURUSD. Those patterns can be tricky, sometimes they break out nicely, other times it's a fakeout. Given the current price near 1.1487 and the RSI at 54, I'm not sure we're ready for a big break down yet. Might see some ranging action first.