Analysis of the American session - Ester Holdings

Analysis of the American session

Trading of the American session on Thursday closed with the general growth of the American dollar against a basket of major competitors. The dollar was supported by the growth of optimism and positive statistics on the USA, which strengthened the demand for the American dollar. General market sentiment remains restrained negative, despite the lull in the trade confrontation between the United States and China. A confirming factor in maintaining pessimism in the market is the negative opening of stock indices in Asia and Europe. Against the background of the upcoming weekend is not excluded the resumption of demand for safe assets.

The US dollar index, on Thursday’s results, updated the high near the level of 97.90, thereby testing the upper limit of the ascending channel and was significantly overbought. Therefore, against the background of renewed pessimism, correction gain is not excluded. Resistance levels of the US dollar index: 97.90 and 98.00, support: 97.70 and 97.60.

Fig. The US dollar index chart. The current price is 97.80 (10-year government bonds yield is the blue line)

Read also: “The nearest prospects for the USD”

Andre Green


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