EUR/USD tracked on bullish corrective at 1.1151 and expected to remain corrective to peak through key-resistance level at 1.1229.

EUR/USD tracked on bullish corrective at 1.1151 and expected to remain corrective to peak through key-resistance level at 1.1229, according to Elliot Wave theory, the pattern would emulate standard ABC wave-4M (chart can be viewed below)

Euro recently rebounded from week lows in advance of upcoming ECB Governing Council Monetary Meeting that will talk about interest rate and its subsequent press conference this week. There's also Euro Zone inflation data as icing on the cake.

Meanwhile, US Dollar held their position strong during Memorial Day. US GDP report last Friday signaled strong economic growth, justifying FED's tight 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