Is the Euro close to breaking out?

The Euro has traded in a wide sideways band for up to four months now. Trying to predict direction has been somewhat difficult in the recent turmoil of the past few months. I am sensing a possibility that we may be close to breaking out on the upside. - The next two charts will highlight my reasoning. - It is worth viewing this in the context of my previous couple of postings .

The first chart shows EURUSD weekly candles.

The second chart shows the EURUSD with a possible 'Cup & Handle' continuation pattern formed over recent weeks. - I am a touch cautious on the validity of this pattern for reasons stated on the chart, but I still feel that it should be given some consideration.

Below is a pictorial representation of an idealized 'Cup and Handle' pattern, or click on this link for further description.: