Analysis of the American Trading Session

The American session on Friday closed with the renewal of the maximum by the dollar index of December last year at around 94.30. The growth of the American was  caused by the general weakening of the euro across the entire spectrum of the market on the resumption of political risks in Italy. Also, the support to the American was provided by the general negative sentiments that persisted in the market at the end of the week.

The oil is under the pressure of negative expectations, which is declining at a rapid pace, pending a review of oil production quotas in OPEC and an increase in drilling activity in the United States.

The US dollar index was under pressure of correction against Friday and growth of optimism in the market, but at the same time it is limited by the general upward trend and support levels: 93.80 and 93.60.

Graph of the US dollar index. The current price is 93.80 (the yield of 10-year government bonds is a blue line)

Also, read: “False breakdown – secrets and subtleties”

Andre Green