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The U.S. Dollar could be forming a “Bullish Cup & Handle” pattern at this time. If this read is correct, the next move in the Dollar needs to be a small decline to create the handle.
No doubt line line (1) is resistance, that has to be broken before the Dollar can move higher!
Chris…as always a quality observation.
yes it could be. If so how long will it take the handle to form? Lets go to Starbucks and talk about it over a few cups of Java!
Nice chart. Question I have, could the entire pattern from August 2010 thru June 2012 be a cup with the handle from June 2012 thru July 2012 – a breakout above the resistance would then be significantly dollar positive – yes?