Good morning,
Descending triangle has been identified via EUR/USD. Price is seriously respecting 1.11736 support level, price has retested this level three times. Price action is also consecutively creating lower highs. In the coming days I'm expecting price to increase and find resistance as well as consolidation around 1.12010 - 1.12090. Based on historical structure price has a probability of reversing here. Thus, near completion of the descending triangle formation, expect a bearish breakout.
Thank You,
Trade Wisely
Every like is appreciated
Descending triangle has been identified via EUR/USD. Price is seriously respecting 1.11736 support level, price has retested this level three times. Price action is also consecutively creating lower highs. In the coming days I'm expecting price to increase and find resistance as well as consolidation around 1.12010 - 1.12090. Based on historical structure price has a probability of reversing here. Thus, near completion of the descending triangle formation, expect a bearish breakout.
Thank You,
Trade Wisely
Every like is appreciated
Trade closed: target reached