EUR/USD tracked bearish around 1.1159 and expecte to rebound as corrective bullish to resistance level around 1.1230, which later will return bearish.

Dear Traders,

EUR/USD tracked bearish around 1.1159 and expected to rebound as corrective bullish to resistance level around 1.1230, which later will return bearish.

Euro sloped down again to 1.1158 after a prior better-than-expected GDP and Industrial Production reports. German Preliminary GDP reported an increase by 0.4%, slightly above expected 0.3%, as well as German HICP that was released at expected result, even though it was less notable than 0.7 increase in first quarter.

 

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