EUR/USD tracked corrective bullish around 1.1256 and expected to be bearish reversal penetrating key-support level at 1.1131..

Dear Traders,

EUR/USD tracked corrective bullish around 1.1256 and expected to be bearish reversal penetrating key-support level at 1.1131.

EUR/USD gained intense brief upward movement as Greenback weakened following FED's decision to retain their current rate, while Bank of Japan also took similar measure. However, Brexit remain as a strong market pressure.

One main advantage of UK membership to EU is access to Schengen Area- a set of rules where banks, including US and non-EU institutions, allowed to operate free of border control.

On side note, EU's inflation rate remained negative as predicted in May, according to Eurostat. CPI declined 0.1 percent compared to previous year May (YoY), noticable slower than steep 0.2 percent slump seen in last April.


Technical Analysis

Consider looking at this graphic to aid your trading decision this day, this graphic is in h4 resolution with Elliot Wave theory to read the upcoming pattern.

EUR/USD