The breakout out of the descending triangle pattern did not occur to the downside. Instead the EUR/USD currency exchange rate has jumped. The currency pair signalled that it will move to the upside, as it slowly moved out of the triangle and fluctuated below the 55-hour SMA. Afterwards, the Euro appreciated sharply against the US Dollar until the pair reached the 1.1490 mark. Due to the fact that during the just described move the pair broke the first weekly resistance, which is located at the 1.1458 mark, the rate is set for additional gains. The next resistance, which is going to be targeted, will be the second weekly resistance level at the 1.1513 level. However, the 1.15 mark might prove itself as a psychological level.
