EURUSD: Cup and Handle or Ascending Triangle?

EURUSD is practically neutral on the 4H chart (RSI = 56.255, MACD = 0.002, ADX = 37.881) as it is stuck within a Cup and Handle (blue) and Ascending Triangle (red) pattern. Technically both provide a solid short-term framework for sideways trading within their trend-lines. In our opinion however the 4H MA200 is the deciding factor for the longer-term trend as it has been in support since May 18th. If crossed we expect a sharp decline as it happened on all previous occasions. As long as it holds, and 1.1350 breaks again, the path to 1.1500 is open.



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