The EURUSD pair rebounded slightly on Monday but it remained below the 1.1200 for most of the day and ended at 1.1184, for a slight expansion of 25 pips or 0.23%.The pair traded in a thin daily range of 51 pips with a high of 1.1204 and a low of 1.1153. Fundamentally, the Greenback seems stronger as compared to other pairs. The U.S Empire State manufacturing Index came out worse than expected at -4.2 on Monday.
Today on Tuesday, the investors are recommended to monitor the following events:

• German ZEW Economic Sentiment
• ZEW Economic Sentiment
• Trade Balance

• Building Permits
• CPI m/m
• Core CPI m/m
• Housing Starts
• Capacity Utilization Rate
• Industrial Production m/m

Technical Overview:

The consolidates above 20, 50 & 100 period EMA’s, still signaling a buying sentiment of investors in the market. Currently, the pair is trading above a strong support level of 1.1185 and above this level, the pair is likely to target 1.1225 (Achieved). Further, as suggested earlier in the previous analysis report, I would recommend entering long above only below 1.1230 to target 1.1295.

Previous Analysis Reference: Trade hit Take Profit at 1.1210 (85+ Pips). (15th Aug, 2016)

Daily Trading Range:
1.1290– 1.1045

Daily Support & Resistance Levels
R3: 1.1395
R2: 1.1270
R1: 1.1218
Pivot Point: 1.1147
S1: 1.1092
S2: 1.1019
S3: 1.0943

Trading Recommendation:
– Buy above @ 1.1210
o Take Profit:
 1st @ 1. 1290
o Stop Loss 1.1180

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