Let's see how this plays out in the next couple hours.
QRLUSD
is on the downtrend. The descending triangle, as seen on the chart, gives us a bearish signal, suggesting that the price will trend downward upon completion of the pattern. The descending triangle is constructed with a flat support line @ $1.07 and a downward-sloping resistance line (See the descending red line).
One should note that in certain cases, the opposite situation could happen where a upward trendline precedes the descending triangle.
QRLUSD
is on the downtrend. The descending triangle, as seen on the chart, gives us a bearish signal, suggesting that the price will trend downward upon completion of the pattern. The descending triangle is constructed with a flat support line @ $1.07 and a downward-sloping resistance line (See the descending red line). One should note that in certain cases, the opposite situation could happen where a upward trendline precedes the descending triangle.
I meant QRLUSD: Downward, not "QRLUSD: Upward"