The common European currency has stopped its surge against the US Dollar. The event is providing an opportunity to review the situation on the charts.
First of all the currency pair has passed the support of the lower trend line of a junior channel up pattern near the 1.2050 mark. Due to that reason it can be expected that a new junior pattern should be looked for, as the rate continues to fluctuate.
Secondly, the pair has revealed the upper trend line of a medium scale pattern, which has guided the pair for a few months.
In regards to the near future, the 1.21 mark is still the target.
