Technical Trading Tips and Techniques by 
Price action on EUR/USD, a 4-hour chart of which is shown, has formed a descending triangle formation in the midst of a strong downtrend. Often considered a bearish continuation pattern, the descending triangle is closely watched for strong breaks to the downside. The triangle’s flat support bottom around the 1.2140 price region has around three touches, while its descending top also has three touches. For more technical analysis on this currency pair, please click here for Wednesday’s (6/02/2010) Chart of the Day.
James Chen, CTA, CMT
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almost worrying the target of this triangle…..
Hi James, what side (up side or down side)is your favour?
Thank you
Hi Bogdan!
Thanks for your comment. I’m looking for an initial target of around 1.2000, if this triangle is indeed broken to the downside. Thanks as always, Bogdan!
James Chen
with the approach of the NFPR, a breakdown could be the possible step, and a V form cold appear, with a 1,20 support. As for the 520K forecast of the NFPR its quite high to reach, so in the early stage a down trend; as for the 9,8 unemploy will pullup the trend back to 1,22.
se we’re now under 1.20 .. can’t say I even considered this possibility ..but.. once here looking at the weekly i have 1.13 as a target