EURUSD still consolidating in 1.11800 – 1.12000 region since 06 August, 2019. The pair dropped on Monday’s session but recovered it loss in a couple of hours continuing its consolidation in 1.12000 area. In today’s early sessions, the Euro experienced the worst than expected Economic Sentiment which is published by the Zew Survey for the month of August as -44.1 vs -28.5 consensus. In the Daily time frame, the pair has broken the descending channel resistance on Monday but failed for a sustained breakthrough above 1.13000. The U.S CPI (MoM) released by the US Department of Labor Statistics rose to 0.03% from 0.02% expected and the anal CPI rose to 2.2% from 2.1% expected. Dispite the better than expected US economic data, the pair is consolidating for the sixth day in 1.11800-1.12000 region. US President Trump recently tweeted that “Through massive devaluation of their currency and pumping vast sums of money into their system, the tens of billions of dollars that the US is receiving is a gift from China. Prices not up, no inflation. Farmers getting more than China would be spending.”. The US dollar was unchanged by the comments from trump and currently trading at 97.64. The EURUSD bulls will wait for a clear move above the 61.8% at 1.12500 region to extend their momentum to next psychological level at 1.13000 and further to June 2019 high at 1.14000.On the other side, the bears will look for a potential downside target to 1.11300 once the daily close falls inside the descending channel including with the Brexit still heading towards a no-deal, the currency will remain capped and may re-test the recent lows.