Analysis of the past week

The outgoing trading week for the US dollar closes lower against a basket of major competitors. The reason for the increase of the US dollar sales, in addition to a technical correction after growth in early November, was the persistence of uncertainty around the US – China trade deal. This was the reason for the uncertainty in the market and the slowdown in American dollar’s growth.

At the end of the week, the US dollar index showed a volatility of about 0.45%, closing the week with a decline and forming a correction against growth since early November. In the conditions of further aggravation of pessimism and aggravation of trade tension, we should expect the American dollar to decline to support levels: 97.80 and 97.60. Significant psychological resistance are marks: 98.00 98.20.

Fig. The US Dollar Index Chart H4. Current price – 98.00 (10-year government bonds yield- blue line)

Hanzenko Anton