Hi Traders!
There is a descending triangle opportunity forming on the EURUSD 4H chart. The price action is showing lower highs and lower lows, which shows that the bears are currently driving the market to the downside.
There is support at 1.08354; there was a previous double bottom at this level, so we are looking for a momentum break and a close below this level.
If we get this, we have highlighted the target area on the chart. The target area is 1.08005–1.07925.
Please remember to like, comment, and follow us, as your support greatly helps us.
Thank you for your support.
BluetonaFX
There is a descending triangle opportunity forming on the EURUSD 4H chart. The price action is showing lower highs and lower lows, which shows that the bears are currently driving the market to the downside.
There is support at 1.08354; there was a previous double bottom at this level, so we are looking for a momentum break and a close below this level.
If we get this, we have highlighted the target area on the chart. The target area is 1.08005–1.07925.
Please remember to like, comment, and follow us, as your support greatly helps us.
Thank you for your support.
BluetonaFX