EUR/USD ran bullish at 1.1188 and expected to remain corrective at peak of 1.1248. Next price movement was predicted to return on bearish note penetrating key-support level at 1.1127.

Dear Traders,

EUR/USD ran bullish at 1.1188 and expected to remain corrective at peak of 1.1248. Next price movement was predicted to return on bearish note penetrating key-support level at 1.1127.

FOMC hawkish maneuvers by expressing notion that FED interest rate hike may raise two or three times by the end of this year applied further bearish pressure to Euro. Even though nobody could ascertain FED's rate hake in June markets were insistent upon appreciating greenback further. However, US Services PMI and Composite PMI briefly stuttered the marches. This signaled implication of questionable US economical strength against term to bring forth strict monetary policy.


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