Analysis of the American Trading Session
Monday trades at the American session closed with restrained growth of the US dollar against a basket of competitors. The growth of the US state bonds profitability on lowering Wall Street stock indices served as the reason for the growth of the American dollar. As a result, the dollar index retained an uptrend and opened the way to further strengthening the dollar.
Further strengthening of the American dollar will be limited to the level of 96.90-97.00 despite the continued upward trend for the dollar. Support is located at levels 96.60-50. The growth of pessimism in the market will support the dollar, as well as the growth of the US state bonds.
The US dollar index chart. Current price – 96.70 (10-year government bond yield – blue line)
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Andre Green
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