EUR/USD CUP AND HANDLE FORMATION!
Speculatively, EUR/USD has formed a Cup and Handle on the 8H Chart. A long entry and TP into the trend line resistance looks appetising.
Having been in an extremely long term down trend, would this be the potential reversal to the upside for the pair?
There will be a lot of selling pressure as EUR/USD comes into the 12 year Trend Line Resistance as highlighted on the chart.
If it is rejected, then flipping to the short side will be favourable.
If this resistance is broken and turned to support, we could have a position trade on our hands.
Speculatively, EUR/USD has formed a Cup and Handle on the 8H Chart. A long entry and TP into the trend line resistance looks appetising.
Having been in an extremely long term down trend, would this be the potential reversal to the upside for the pair?
There will be a lot of selling pressure as EUR/USD comes into the 12 year Trend Line Resistance as highlighted on the chart.
If it is rejected, then flipping to the short side will be favourable.
If this resistance is broken and turned to support, we could have a position trade on our hands.
Trade closed: target reached