Analysis of the American Trading Session
Trading of the American session on Tuesday closed very restrained, taking into account the movements in the market, which were traced early in the day while waiting for a vote on the Brexit deal. In the American session, the British pound showed a significant movement, but it was not long and actually had an impulsive character. Gold showed a noticeable movement on the growth of uncertainty and risk.
The US dollar index at the end of trading on the American session on Tuesday returned to the level of the opening of the day and continued to trade near the significant support of 97.00, maintaining the downward trend in the dollar, which was supported by the weak inflation data in the US. The dollar index slowed down on the growth of pessimism, limiting itself to the level of support: 96.80-70 and resistance: 97.20-30.
Fig. The US dollar index chart. The current price is 97.00 (10-year government bonds yield is the blue line)
Read also: “Swiss franc (CHF) – features of trading on cross-rates”
Andre Green
Earn with the help of the trade service on the news Erste News!
Topical articles of the trader’s blog:
- 3 major mistakes of traders-beginners
- Emerging markets and their prospects
- The US Dollar Index (DXY) as an auxiliary indicator for trading in commodity currencies
Current Investment ideas: