Analysis of the past week

According to the results of the outgoing week, pessimism around the US trade war, political uncertainty in Europe and the possibility of an aggravation of the military conflict in the Middle East remain on the market. As a result, gold received considerable support as a safe haven asset.

The US dollar index for the past week has strengthened noticeably against the basket of major competitors. The reason for the strengthening of the American were the trading risks and positive data on retail sales in the United States, which reduced the likelihood of lowering the Fed rates. At the end of the week, the American dollar managed to work out exactly half of the decline in late May and early June. At the same time, the US dollar index is limited to overbought. The following significant resistance levels for the US dollar index are located at: 97.60 and 97.90, support: 97.20 and 97.00.

Fig. The US dollar index H4 chart. The current price is 97.30 (the yield on 10-year government bonds is the blue line)

Hanzenko Anton