EUR/USD sloped down to 1.0960 last Friday and expected to remain bearish until hitting support level around 1.0911 as emulated by wave 3 (chart can be viewed inside)

Dear Traders,

EUR/USD sloped down to 1.0960 last Friday and expected to remain bearish until hitting support level around 1.0911 as emulated by wave iii (chart can be viewed below)

Euro was traded on sideway bearish, seemingly unresponsive from latest Draghi's press conference and ECB's rate decision. On the contrary, Euro gained brief traction against its major rivals in early European trading session last week, following economic report of Euro flash Markit Composite PMI which was slightly better than expected (scored at 52.9).

 

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