EUR/USD Descending Triangle Keeps Bears in Focus

EUR/USD is sitting in a descending triangle, with momentum indicators slowly weakening. RSI is just below 50, and MACD has rolled over but is not yet negative, showing neutral to slightly bearish momentum. A recent doji candle reflects market indecision.

The key level to watch is the 50-day moving average near 1.1750. A clear break and close below this zone would strengthen the bearish case, opening the door toward 1.1700 and possibly the 200-day moving average.

A clean breakout above the downtrend would shift the outlook to neutral or slightly bullish, exposing 1.18700.

Overall, downside risk remains in play, but confirmation is needed. The 1.1750 area is the key level that will likely decide the next move.

EUR/USD Daily Chart