An analysis of the previous day

On Monday, November 6, the US dollar showed mixed dynamics against its main competitors, but updated the maximum against the euro, which was caused by the widespread weakening of the latter on weak data on business activity in the services sector. In general, the dynamics of the dollar and the market remains subdued due to overbought of the American and the lack of significant news.

The US dollar index shows some slowdown of the uptrend against the background of overbought. Also, the figure inverted head and shoulders on the US dollar index worked off. Now, one should expect the formation of correction and expansion of the trade channel, which in the future will allow the American to develop a full-fledged uptrend.

Anton Hanzenko