The “Power of the Pattern” reflected that a potential “bullish Cup & Handle” pattern was taking shape in the U.S. Dollar on 11/30 (see post here)
Below is an update to this pattern made pre-market this morning…
CLICK ON CHART TO ENLARGE
The U.S. Dollar is doing its best this morning to break the handle channel to the upside. (Much could change by the end of the day, pre-market action though is attempting a breakout)
Next key for this pattern is the top of the Cup resistance, which comes into play at the 79.50-80 range, which so far the Dollar has been unable to break!
If this pattern read is correct and the Dollar breaks the top of the cup, investors will have to “handle” risk assets (stocks/commodities/metals) very carefully because they could be put under pricing pressure.