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Analysis of the American session
The US trading session on Friday closed with the rapid growth of the US dollar against a basket of competitors. The expectation of the introduction of new trade tariffs between the United States and China was the reason for strengthening the American dollar. It caused the strengthening of the American dollar against risky assets. But it is also worth noting the significant overbought of the dollar, which was formed after the Friday’s growth.
A restrained downward trend is expected from the American and the market in general to support levels of 98.70-60 in the conditions of low trading activity at the start of the week and day-off in the USA and Canada. Strong resistance is the Friday highs of 99.00-10.
Fig. The US dollar index chart. Current price – 98.80 (10-year US government bonds yield – blue line)
Read also: “A new front opens in the trade war”
Andre Green
Earn with the help of the trade service on the news Erste News!
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