EURUSD is showing cup and handle pattern with strong momentum to the upside. We could see a potential counter trend setup between 1.0940-1.0955 towards 1.0615 as cup and handle projected top shows a confluence at 78.6 and H4. In this case the pattern has already been formed, but the handle has not been broken yet. Usually the when handle is broken the price proceeds towards next resistance where fading the strength might come in play.
We can also see a previous high around 1.0920 but in the case of cup and handle pattern that swing should be taken out towards 1.0940-50. If EURUSD manages to stay below 1.1050, we could see 1.0620 during the week.
The analysis and the article presents Nenad's opinion. Remember, financial trading is highly speculative & may lead to the loss of your funds. Proper risk management is the Holy Grail of trading.
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