Last week EURUSD tested resistance at 1.1380 and that test was finished by rebound. The price declined below support at 1.1230 and currently it has been testing the lower limit of bullish regression channel. Support at 1.1160 should cause rebound and new upward impuls. Alternatively, if EURUSD drops below 1.1160 level, which is less likely, there will be a bigger sell-off with goal at 1.0810.

It has to be noted that today there will be the most important highlight for a few last weeks. It will be the FED’s decision about interest rates. Moreover, Janet Yellen the FED’s chair will have press conference after the announcement. But do not think that this will be the last attraction of current month because next week there will be a Brexit vote. Due to, be ready for a high volatility on the market especially on EURUSD.

Time-frame H4


Time-frame D1


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