Cup & Handle? Analysis of EURCAD chartEuro vs Canadian DollarICMARKETS:EURCADTranquilo1154Recent price movements I am not a pattern expert but this formation jumped out at me. It is strong continuation pattern and a resumption of the bullish trend is a strong possibility. Leaving the cup and handle pattern aside, we do have other reasons for holding a bullish bias on this pair: On all time frames, the pair is bullish The 50 ema has started acting as a dynamic support now. The area between 0.62300 – 0.62590 has been an important resistance zone in the recent past. If a breakout and retest type of setup unfolds next week, that would reduce some risk in this trade. Trade parameters These are not normal times and the situation in the middle-east continues to be unpredictable. The CAD is positively corelated with crude oil and if the price of oil starts rising, CAD may be strengthened and my bullish bias on this pair will be invalidated. Entry – Wait for a breakout and a pullback and then bullish evidence (on a lower t/f) before entry. Stop – below the handle formation. Target(s) – Depends on your trading style I would favor a partial close and leaving the balance to run if the trend continues. General comment There is substantial market manipulation in the markets these days. Trading with smaller position size and giving extra space for stops is recommended. Gaps are regularly seen and anticipating the market open and initial moves is impossible. As always, nothing in trading is ever 100%, so please allow price action to fully develop in your desired direction before executing a trade. This is not a trade recommendation