EUR/USD was tracked bearish to 1.1063 and expected to rebound bullish briefly before hitting resistance at 1.1033.

Dear Traders,

EUR/USD was tracked bearish to 1.1063 and expected to rebound bullish briefly before hitting resistance at 1.1033.

EU recent economic data release showed German CPI increase at 0.1% MoM, and 0.3% YoY, generally heading in line with market expectations. Food price declined by 0.4%, while transportation price rose by 0,8% due to rising fuel price from rallying oil price.


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