Analysis of the American Trading Session

Wednesday  US session was closed with the correction of the US dollar on the withdrawal from psychology 97.00, which corresponds to the upper boundary of the upward channel. An additional reason for the correction of the US dollar was the collapse of the US state bonds yield  and technical correction of the dollar on overbought.

The risks associated with the Turkish lira still remain on the market, but against the background of the restoration of the stock exchanges, the dynamics of the decline in demand for safe assets and, in particular, for the American currency are traced. So, the US dollar index is trading near the level of 96.50-40. Strong support is the mark of 96.20, resistance is 96.80.

The US dollar index chart. The current price is 96.50 (10-year government bonds yield is a blue line)

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Andre Green

Earn with the help of the trade service on the news Erste News!

Topical articles of the trader’s blog:

1. Medium-term prospects for the US dollar for August-September
2. Emerging markets and their prospects: Chinese yuan (CNH or CNY)
3. Stock indices: the Japanese market

Current Investment ideas:

1. Preparing to have profits on an optimistic report of Alcoa Inc.!
2. On weak reporting of Boeing shares we can get a strong income!