Cup and Handle Pattern:
The chart exhibits a classic "Cup and Handle" formation. The "cup" forms from around July 2024 to March 2025, where the price dips to a low near 1.06250 (around October 2024) and then rises to a high near 1.13660 (March 2025), creating a U-shaped recovery.
The "handle" follows from March 2025 to May 2025, showing a slight consolidation or pullback, with the price dipping to around 1.13115 before breaking out.
Breakout:
The price breaks out of the handle around late May 2025, surpassing the previous high of 1.13660 and reaching approximately 1.14245. This breakout confirms the bullish continuation pattern.
Price Target:
The chart includes a projected price target box ranging from 1.13660 to 1.24815. The height of the cup (from the low of 1.06250 to the high of 1.13660, roughly 0.07410) is added to the breakout point (1.13660), giving a potential target around 1.21070, which aligns with the lower end of the target box.
Trendline and Support:
A descending trendline (drawn in red) from the March 2025 high is broken during the breakout, further confirming the bullish momentum.
The price finds support around the 1.13115 level during the handle formation, which aligns with the breakout confirmation.
Conclusion:
The chart displays a bullish Cup and Handle pattern with a confirmed breakout, suggesting potential upward movement toward the 1.21070–1.24815 range. However, traders should watch for volume confirmation and any macroeconomic factors affecting the Euro FX, as well as monitor for a possible retest of the breakout level around 1.13660.
The chart exhibits a classic "Cup and Handle" formation. The "cup" forms from around July 2024 to March 2025, where the price dips to a low near 1.06250 (around October 2024) and then rises to a high near 1.13660 (March 2025), creating a U-shaped recovery.
The "handle" follows from March 2025 to May 2025, showing a slight consolidation or pullback, with the price dipping to around 1.13115 before breaking out.
Breakout:
The price breaks out of the handle around late May 2025, surpassing the previous high of 1.13660 and reaching approximately 1.14245. This breakout confirms the bullish continuation pattern.
Price Target:
The chart includes a projected price target box ranging from 1.13660 to 1.24815. The height of the cup (from the low of 1.06250 to the high of 1.13660, roughly 0.07410) is added to the breakout point (1.13660), giving a potential target around 1.21070, which aligns with the lower end of the target box.
Trendline and Support:
A descending trendline (drawn in red) from the March 2025 high is broken during the breakout, further confirming the bullish momentum.
The price finds support around the 1.13115 level during the handle formation, which aligns with the breakout confirmation.
Conclusion:
The chart displays a bullish Cup and Handle pattern with a confirmed breakout, suggesting potential upward movement toward the 1.21070–1.24815 range. However, traders should watch for volume confirmation and any macroeconomic factors affecting the Euro FX, as well as monitor for a possible retest of the breakout level around 1.13660.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.