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technical analysis

The dollar index fell for the third consecutive day, with price falling to a two-month low.

The declines come amid a weak patch of economic reports. The US-China trade talks also did not offer any fresh news for investors.

As a result, the dollar took a backseat. This led to most of its peers posting some modest gains.

Euro Maintains Gains as US Data Disappoints

Economic data from the United States on Thursday saw a string of weak reports. As a result, the euro maintained its gains. The weekly jobless claims came in at 214,000 in line with the estimates.

Housing starts rose 1.26 million coming below estimates. Industrial production was down, falling 0.4%. This was more than the estimates of a 0.2% decline.

Will the EURUSD Maintain the Uptrend?

The currency pair is in a short-term uptrend. This was confirmed after price breached the resistance area of 1.1075–1.1062. The current gains could see price action aiming for the upper resistance area of 1.1193–1.1176. In the near term though, p...


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