On Thursday, The pair rose in quiet trading as volatility declined further and traders looked beyond the initial Brexit panic. Numerous economic releases came out in Eurozone, calming recession fears, as investors focused on economic issues again. Fortunately, estimated infaltion figures improved along with German retail sales. Volatility remained thin on the market as investors are still waiting for the currency market to settle from BREXIT sell off.
Today on Friday, the investors are recommended to monitor the following events:
• Spanish Manufacturing PMI
• ISM Manufacturing PMI
The EURUSD is consolidating in a a triangle pattern following the BREXIT shock, as it remains below its prior trend channel. The resistance prevails at 1.1150, 1.1185 and around 1.1285. Further, the pair is likely to find a support at 1.1085, 1.1000 and below that at 1.0960.
Previous Analysis Reference: It is likely to face resistance at 1.1125, and around 1.1185 while support stands at 1.11, and near 1.090. (30th June, 2016)
Daily Trading Range:
Daily Support & Resistance Levels
Pivot Point: 1.1281
– Sell @ 1.1150
o Take Profit:
1st @ 1. 0900
2nd @ 1.082
o Stop Loss 1.1225