EURUSD tracked bearish around 1.1301 and expected to rebound in corrective bullish to resistance level at 1.1331.

Dear Traders,

EURUSD tracked bearish around 1.1301 and expected to rebound in corrective bullish to resistance level at 1.1331.

Manufacturing PMI was released slightly lower from expected score, but remained above 50. Euro Zone economy was able to retain momentum in August, with progress still hindered by Brexit. IHS Markit stated that their report showed Euro Zone economy is still on stable growth tracks, even though inflation and services was sloped down this month. Forecasts suggested GDP growth around 0.3% this quarter, similar to average of this year first semester.

 

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.

EURUSD