The “Power of the Pattern” suggested that a “Bullish Cup and Handle” pattern looked to be taking shape almost 2 weeks ago (see post here). Below is an update to the pattern…
CLICK ON CHART TO ENLARGE
The day and week is far from over, so far though the Dollar & Euro are both doing their best to break key resistance/support lines at (1).
Yes the Dollar is up/Euro down and stocks are up today… keep a close on on the C&H pattern to see if this really a breakout/breakdown or a quick turn around fake out!
The reality of a Dollar breakout/Euro breakdown….LOOK OUT BELOW RISK ASSETS!