On Friday morning the common European currency had continued the decline against the US Dollar, which started during the late hours of Thursday’s trading session.
It began due to the fact that the pair bounced off resistance near the 61.80% Fibonacci retracement level, which is located near the 1.1890 mark. The high levels of the recent attempts to surge are used to chart a speculated channel down pattern.
The pattern reveals that the pair might fall down to the 1.18 mark by New Year’s eve.
