An analysis of the previous day

On Tuesday, October 31, the US dollar index, like the euro, held a restrained and multidirectional trade. Despite a significant amount of news and positive dynamics of stock indices. Stock indices have left the red zone and remain trading above zero, which confirms the positive mood of the market.

Despite the restraint of the dollar against major competitors, the US dollar itself was completely corrected against growth last week. Especially it can be traced in pairs with safe assets: yen and gold. Such dynamics is also promoted by the growth of optimism in the market.

Regarding the pair EUR/USD, the American retains the potential to strengthen against the euro, remaining below resistance level 1.1650-60. This opens up a chance for dollar investors to enter into buying an American against the euro, the franc, the Australian and the New Zealander.

Anton Hanzenko