Never miss a story from Nick Cawley

Subscribe to receive daily updates on publications
Please enter valid First Name
Please fill out this field.
Please enter valid Last Name
Please fill out this field.
Please enter valid email
Please fill out this field.
Please select a country

I’d like to receive information from DailyFX and IG about trading opportunities and their products and services via email.

Please fill out this field.

Your Forecast Is Headed to Your Inbox

But don't just read our analysis - put it to the rest. Your forecast comes with a free demo account from our provider, IG, so you can try out trading with zero risk.

Your demo is preloaded with £10,000 virtual funds, which you can use to trade over 10,000 live global markets.

We'll email you login details shortly.

Learn More about Your Demo

You are subscribed to Nick Cawley

You can manage your subscriptions by following the link in the footer of each email you will receive

An error occurred submitting your form.
Please try again later.

USD – Price, Chart and Technical Analysis

  • EURUSD trades just under 1.1700 and looks capped at 1.17336 in the short-term.
  • Personal consumption unchanged while income nudges a fraction lower.

The DailyFX Q3 forecast and analysis of the US Dollar is available to download here.

USD Needs Something to Prompt the Next Move

EURUSD traded sideways after the latest look at US personal spending and prices paid gave no fresh clues on the state of the US economy. Earlier this week the second look at US Q2 GDP had given dollar bulls hope with a higher-than-expected reading of 4.2% against 4.1% for the previous quarter.

US PCE Core (YoY) rose by 2.0% matching market expectations of 2.0% and a prior month’s reading of 1.9%, while US Personal Income for July rose by 0.3% versus expectations and a prior reading of 0.4%.

US Retail Sales Advance (MoM) – released on August 15 – beat expectations (0.1%) by printing at 0.5% against a prior month’s reading of 0.2%, fuelling thoughts that consumer spending would remain robust, although proved unfounded.

Traders attention will now turn to Friday’s Chicago PMI and U. of Mich Sentiment.

EURUSD One Minute Price Chart (August 30, 2018)

EURUSD Still Looking For a Stimulus After Benign Data

If you are new to foreign exchange, or if you would like to update your knowledge base, download our New to FX Guide and our Traits of Successful Traders to help you on your journey.

What’s your opinion on the US dollar? Share your thoughts with us using the comments section at the end of the article or you can contact the author via email at or via Twitter @nickcawley1

--- Written by Nick Cawley, Analyst