EURUSD remained bullish as more than expected hawkish Bank of England announcement as well as unchanged rate changed. It sparked a rally in the common currency as well, despite the negative effect on the local stock markets and global risk assets in general. The pair maintained its consolidated pattern and traded in a choppy fashion. It finished the muted session at 1.1095 with a small gain of 33 pips 0.30%.
Today on Friday, the investors are recommended to monitor the following events:
EUR
• Final CPI y/y
• Final Core CPI y/y
USD
• CPI m/m
• Core CPI m/m
• Core Retail Sales m/m
• Retail Sales m/m
• Prelim UoM Consumer Sentiment

Technical Overview:

The EURUSD continued to trade in its trading range of 1.1160 – 1.1025 and consolidating below its prior trend channel. Resistance is still found at 1.1185, and around 1.1285. Support remains at 1.11, at 1.10, and near 1.09.
Previous Analysis Reference: The previous trade remained in profit of more +65 Pips (14th July, 2016)
Daily Trading Range:

1.1250– 1.0845

Daily Support & Resistance Levels

R3: 1.1160
R2: 1.1130
R1: 1.1112
Pivot Point: 1.1083
S1: 1.1053
S2: 1.1035
S3: 1.1006

Trading Recommendation:

Still Active Sell @ 1.1200
o Take Profit:
 1st @ 1. 1120
o Stop Loss 1.1250

EURUSD Chart

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