Due to a combination of Fundamental information and Technical Analysis resistance levels the EUR/USD plummeted down below the 1.1300 mark on Friday.
The turmoil in the United Kingdom affects the strength of the Euro. Namely, as the UK Parliament triggered a confidence vote in Theresa May, the currency exchange rate plummeted.
The Euro has felt some spill over from the British Pound, as the Brexit Parliament vote has been cancelled by the Prime Minister of the United Kingdom.
EUR/USD has managed to break the previously numerous times tested upper trend line of a dominant descending pattern.
The rate has once more tested the high level of 1.1400. Although, after the testing of the high level the rate began a decline.
On Thursday, the EUR/USD faced a strong resistance level at the 1.1350 mark.
During the last twenty four hours the EUR/USD has increased its volatility to a 100 base point range.
The EUR/USD pair has surged to the upper trend line of a dominant descending channel pattern near the 1.14 mark.
On Monday morning the EUR/USD traded with high volatility, as after surging up to the 1.1380 level it declined in a sudden sharp move.
On Friday, the EUR/USD traded near the previous day's levels. However, by the middle of the day's trading the pair had met with additional support levels.
The Euro jumped on Wednesday afternoon, crashing technical charts.
The EUR/USD has passed downwards, as expected. During the decline the rate had traded almost sideways near the weekly S1 at 1.1290 and the 1.1300 mark before eventually reaching the low level of 1.1270.
The EUR/USD has bounced off the resistance of 1.1380 level and fulfilled the forecast of declining down to the levels near 1.1300.
On Monday morning the EUR/USD was attempting to pass a strong resistance cluster at the 1.1380 level.
Previous forecast did not become reality. After a third attempt o reach above the resistance levels just above the 1.1400 mark, the EUR/USD plummeted.
By the middle of Thursday's trading session the EUR/USD currency exchange rate had remained near the 1.1400 mark.
The EUR/USD has given new information to technical chartists.
The surge of the EUR/USD continued for the third consecutive trading session on Friday.
The EUR/USD has continued to surge on Thursday.
The EUR/USD has bounced up to trade above the 1.13 mark.
As the EUR/USD extended its decline on Monday, the currency exchange rate reached the 1.1215 level and broke a large scale descending pattern.
The EUR/USD has passed below the 1.1300 mark.
Note that the hourly chart of EUR/USD has been updated.
After touching the 1.1500 mark the EUR/USD had retreated down to technical levels near the 1.1410 mark.