The EUR/USD was at the 1.1607 mark on Monday morning. The main rate was located near the weekly pivot point at the 1.1641 mark during the morning hours. The main pair broke the pattern during Friday’s session, slumped below the junior descending line.
It is expected that the European Single Currency might move upwards to fit back into the pattern which was drawn last week. On the other side, the European Single Currency might to go downwards due to a strong resistance of the weekly PP and the 200-hour simple moving average.
