EURUSD is Forming A Descending Triangle

The EURUSD is in the process of forming a descending triangle which we will be looking to short about 20 pips below the bottom of the triangle. According to our algorithm this pair has a 76% success rate on the daily chart when it recognizes a pattern. This pattern has a 76% success rate for all currency pairs which we monitor.

Our profit target will be 200-220 pips while our stop will be 180-200 pips.