EURUSD ran bullish after FOCM meeting announcement which yielded a static change to rate hike. Price range were still around 1.1262, and expected to reverse as bearish plunge to key-support level at 1.1188.

Dear Traders,

EURUSD ran bullish after FOCM meeting announcement which yielded a static change to rate hike. Price range were still around 1.1262, and expected to reverse as bearish plunge to key-support level at 1.1188.

The first ever dip of 10-year German Bund Auction gave noticeable pressure to Euro, which later corrected to slight positive gain to investor holding those bonds. On top of it, Euro may weaken further if ECB cut their rate to negative zone again.

On side note, slumped Greenback gave rise to Euro, even though it may not last for long when pitted against odds of UK Referendum on June 23rd.


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.

EURUSD