EUR/USD was tracked bearish sideway around 1.1167 and expected to break high to resistance level at 1.1230 as emulated by extended wave 5C movement (chart can be viewed inside)

Dear Traders,

EUR/USD was tracked bearish sideway around 1.1167 and expected to break high to resistance level at 1.1230 as emulated by extended wave 5C movement (chart can be viewed below)

Italia Monte dei Paschi, England Royal Bank of Scotland, and Ireland AIB were pinned at bottom levels in banking stress test conducted to 51 regional banks to measure their capital strength against monetary crisis. Meanwhile, NY-Fed Dudley suggested FED's interest rate hike merited further awareness and meticulous approaches considering global economic uncertainty. However, he had also warned that FED's rate hike couldn't be ruled out to occur this year.


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