EUR/USD ran corrective bullish to 1.1356 and expected to plunge as bearish reversal to nearest key-support level around 1.1130.

Dear Traders,

EUR/USD ran corrective bullish to 1.1356 and is expected to plunge as bearish reversal to nearest key-support level around 1.1130.

Global economic uncertainty last week drove many investor to seek safe havens, namely Gold and Japanese Yen. Meanwhile, US housing starts declined slightly in May, according to US Department of Commerce last week. That report stated new housing construction declined slightly by 0.3 percent at 1164k in May compared to previous prediction in April at 1167K.


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