Analysis of the American session

Trading on the US trading session on Monday closed with the general growth of the US dollar against a basket of competitors. The main driver for strengthening of the American dollar was the growth of optimism around trade negotiations, causing lower risks and weakening demand for safe haven currencies.

As a result, the US dollar index updated the November high, but was limited by overbought and a downtrend in October. Further growth of the American dollar will be limited by technical correction and resistance levels: 97.60 and 97.80. Support is located at: 97.40 and 97.30.

Fig. US dollar index chart. Current price – 97.50 (10-year US government bonds yield – blue line)

Read also: “What indicators choose Forex traders  (Part 1)”

Andre Green

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

Topical articles of the trader’s blog:

1. Upward dynamics of gold, resumption of growth or correction before the decline
2. Increased transportation costs: a driver for rising oil prices
3. An uncertainty about Brexit is increasing

Current Investment ideas:

1. One more opportunity to earn in October! Sell ​​#CAT shares now!
2. Several reasons to buy Cisco Systems, Inc. shares in October. Let’s earn Together!
3. Technology giant Microsoft is getting ready to storm new highs! Let’s make money on it!