Expect EUR/USD to slide bearish to nearest key-support level at 1.0911 after its recent landslide sideways movement.

Dear Traders,

Expect EUR/USD to slide bearish to nearest key-support level at 1.0911 after its recent landslide sideways movement.

Greenback amassed strength thanks to last week better-than-expected NFP release that answered investor's concern regarding US economy recession. FED's normalisation process was convoluted due to their focus on avoiding turmoil in financial market rather than making beneficial decision for US economy health in the long term.

On another side of the coin, Euro zone economic recovery are on steady progress, barring investor's weak outlook toward its longer term prospect. IMF suggested that EU's remaining member must took collective actions and align their monetary policy if they want to regain a stronger foundation.


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