EUR/USD ran bearish to 1.1299 and expected to rebound as so bullish reversal would then peak around key-resistance at 1.1417

Dear Traders,

EUR/USD ran bearish to 1.1299 and expected to rebound as so bullish reversal would then peak around key-resistance at 1.1417

EURO sloped down following Mario Draghi's speech and slightly rising US dollar. Wall Street Journal reported ECB's President insistence toward EUs governments to directly partake in promoting economic growth and inflation. He forewarned impeded ECB's performance should economic reforms lacked thereof.

So if other policies are not aligned with monetary policy, inflation risks returning to our objective at a slower pace. As stated by Draghi at the Brussels Economic Forum 2016.


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