Speculations on FED progressive Interest Rate hike were the main force to drive up Greenback exchange rate on two-weeks highs against other major currencies last Friday, and EUR/USD simply follow suit, moving bearish around 1.1304

Speculations on FED progressive Interest Rate hike were the main force to drive up Greenback exchange rate on two-week highs against other major currencies last Friday, and EUR/USD simply follow suit, moving bearish around 1.1304.

Rising US Dollar would surely impact future commodities, especially oil futures as it increase cost for oil importing countries using foreign currencies, potentially driving demands down. Previously, Greenback was on sixteen-months lows, leading to sharp sell-off actions during first quarter this year following declining market speculations toward FED's interest rate.


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