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technical analysis

After nearly a year since President Trump started his trade war rhetoric against China, both parties have signed a deal.

The phase one of the trade deal is seen by many as a first step towards easing trade tensions between the two economic powerhouses of the world.

Equity markets charted into new highs intraday ahead of the signing of the deal.

Euro Rises on a Softer USD

The euro was recovering from the weakness earlier in the week. The gains came largely due to a weaker dollar.

Economic data from the eurozone saw the industrial production figures rising 0.2% on the month, falling below estimates. The common currency, however, brushed aside the data.

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EURUSD to Move into a New Range

The currency pair is rebounding off the support area near the 1.1131 level. This is pushing the currency pair higher. However, the gains will be limited as the EURUSD will settle into the new range.

The resistance level at 1.11...

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