The recent surge of the Euro against the US Dollar to the 1.1850 mark has forces a review of the situation of the pair. Both, short term and medium term patterns were adjusted.
After the adjustment the medium term descending channel pattern is with a lesser incline than previously thought. Meanwhile, the junior patter seems to be still holding. However, in the near future it will become obsolete.
All in all, the forecast of a decline of the pair remains in force. Although, in the next 24 hours the currency pair will face the support of the 55 and 100–hour SMAs together with the weekly PP in a range from 1.1780 to 1.1760
