Analysis of the American Trading Session

The American session of Thursday was closed by the dollar growth  across the market, which was caused by the continued optimism about the Fed’s rate hikes in September and the resumption of risks around the US and Chinatrade confrontation. Thus, negotiations on the US and China trade relations  did not yield results and duties were introduced from both sides.

As a result, the US dollar index has updated at a maximum of 95.70, thereby consolidating above the level of 95.50, which indicates the formation of an upward trend. In conditions of maintaining optimism for the US dollar and updating the maximum, we should expect a test of resistance levels: 95.80 and 96.00. Supported by the marks: 95.20 and 95.00.

The US dollar index chart. The current price is 95.50 (10-year government bonds yield is a blue line)

Read also: “Internal correlation of the foreign exchange market: the Ghost of the past or the instrument of trading in future?”

Andre Green

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

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