Analysis of the American Trading Session

Trades on Tuesday burrowed by the growth of the US dollar index, which was caused by the exacerbation of risks in the UK amid the failure of the Brexit deal and the announcement of a no-confidence vote to the current UK government. Additional support for the American dollar was provided by the speech of the ECB President Draghi, who noted the weakness of the eurozone economy and pointed to the need to stimulate the economy.

As a result, the US currency accelerated the growth, updating the highs of the week and accelerating the upward trend. It should be noted that the further strengthening of the American dollar is limited by the levels of resistance: 96.20 and 96.50 and the general downward trend, which can be traced from the middle of December last year.

The US dollar index chart. The current price is 96.00 (10-year government bonds yield is the blue line)

Read also: “Correction is an integral part of price movement in the market and one of the main assistants to the trader”

Andre Green

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

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