| EUR/USD - Descending Triangle Within Downtrend Posted: 02 Jun 2010 07:02 AM PDT  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.
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