EUR/USD ran bearish around 1.1131 and expected to turn corrective bullish that would peak at resistance level at 1.1166, and later sloping bearish again.

Dear Traders,

EUR/USD ran bearish around 1.1131 and expected to turn corrective bullish that would peak at resistance level at 1.1166, and later sloping bearish again.

Euro slanted down against US Dollar after Greenback's gains following back and forth speculations of FED's interest rate hike. Meanwhile, ECB has purchased bonds since June 8th and latest data had shown that they have bought around 13.2B Euro (USD 14.8B) worth of investment grade bonds issued by Euro Zone manufacturers on July 29th.

 

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