Analysis of the American Trading Session
Trading in the US session on Friday closed with a restrained decline of the American dollar, mainly against safe haven assets. The overall dynamics of the American dollar at the end of the day was very optimistic, which was due to the growing fears about the US-China trade negotiations. The US dollar has weakened significantly on weak US industrial production data. As a result, it slowed the growth of the American dollar against a basket of competitors.
The US dollar index on Friday closed below the significant resistance of 96.70-80, but above the support of 96.50, which indicates a slowdown in the two-week decline of the dollar. Under the conditions of correction after Friday’s growth, the US dollar index remains clamped in the range from 96.70 to 96.50, forming an upward trading channel on the risks of exacerbated trade opposition.
The US dollar index chart. The current price is 96.60 (10-year government bonds yield is the blue line)
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Andre Green
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