The Euro rose against the USD yesterday and completed the "cup & handle" pattern under 1.33. A strong break-up of this bullish pattern might take the EUR up to 1.35 versus the US dollar.
The strengthening of the EUR reflects also against the powerful Aussie, and there might be a signal for a possible change in the trend of the pair. The general trend in the daily chart is strong bearish, but the double-bottom pattern seemed to be created in the chart and this might push the pair up to the next resistance at 1.245, which if the EUR breaks, it might trigger an aggressive short-squeeze that could lift the pair up to 1.27-1.275.
The strengthening of the EUR reflects also against the powerful Aussie, and there might be a signal for a possible change in the trend of the pair. The general trend in the daily chart is strong bearish, but the double-bottom pattern seemed to be created in the chart and this might push the pair up to the next resistance at 1.245, which if the EUR breaks, it might trigger an aggressive short-squeeze that could lift the pair up to 1.27-1.275.
