Analysis of the American Trading Session

Trading on the American session on Monday closed with the growth of an American dollar against a basket of major competitors. Despite the decline in the US state bonds profitability and the lack of significant news, the dollar continued its upward trend of Friday. The reason for this was pessimism on stock exchanges and the ambiguous results of the US-China trade negotiations, which retained many sharp corners in relations, among which are intellectual property rights.

As a result, the US dollar strengthened on the growth of pessimism, taking the role of a safe asset in the current situation. Keeping the upward dynamics of the American dollar is due to increasing risks. The growth of the dollar is also limited by its overbought and resistance of 96.80 and 97.00.

The US dollar index chart. The current price is 96.70 (10-year government bonds yield is the blue line)

Read also: “Dow Theory – the basics of technical analysis”

Andre Green

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