The common European currency has gained ground against the US Dollar. The currency exchange rate on Thursday morning was approaching the 1.1940 mark. However, it has to be noted that the reason for the surge was US Dollar’s weakness not the strength of the Euro, as it can be seen that the Buck has given ground on all charts.
In regards to the future of the EUR/USD pair, it can be expected that the surge will continue until it reaches the upper trend line of the pattern, which forced the breaking of the dominant resistance. The trend line at current angle would be reached near the 1.1960 level.
