Analysis of the American session

Friday trading of the American session closed with the general growth of the American dollar across the market. The reason for this was the exacerbation of political risks in the eurozone on the expectation of parliamentary elections and the exacerbation of political uncertainty in the UK relative to Brexit. Against the background of the preservation of tension around the US-Chinese trade war, investors preferred to take safe positions before the weekend, buying up the US dollar.

Friday’s US trading closed with a significant increase in the dollar index against a basket of major competitors, with the monthly high of 98.00 updated. Despite significant overbought, risks remain. In fact, the US dollar index maintains an upward trend, limited to attempts at correction from resistance levels 98.00 and 98.20. Support is located at levels: 97.90 and 97.80.

Fig. The US dollar index chart. The current price is 98.00 (10-year government bonds yield is the blue line)

Read also: “Geopolitical risks
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Andre Green

Earn with the help of the trade service on the news Erste News!

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