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EURUSD Cup with Handle variant II pattern suggesting futher upside

Discussion in 'Technical Analysis' started by FXStreet_Team, Dec 22, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    As we could read in the previous EURUSD coverage the EURUSD hasn’t broken 1.0800 so there was no breakout towards 1.0720. What we see now is a squeeze in EURUSD and it formed a Cup and Handle variant 2 pattern which might push the pair towards 1.1000 and 1.1050. We can spot a false breakout and institutional selling which has led many traders astray thinking the pair could proceed with the downtrend. That is one of the reasons I have stated that 1.0950 is POC while a H1/H4 close above 1.0960

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