Analysis of the past week

The last week of April was very effective for the US currency. So, the US dollar index closes the week with another maximum at 92.00 and growth of 160 points. What was caused by a number of factors, such as the growth of the US state bonds, which in the week have updated the maximum of the last four years at around 3.3%. After that, the dollar was supported by the recovery of stock exchanges and positive statistics on the United States.

Also in the week was published a significant amount of statistics and the results of the ECB meeting, which reduced optimism for the euro. The week was also very calm in terms of loud statements from geopolitics and trade confrontation, which went hand in hand with the US dollar.

Despite restrained corrections and continued optimism, the US dollar index remains in a noticeable overbought and is limited to the level of 92.00, which corresponds to the opening levels of the current year, which in the long term may cause a correction at the exit from the existing channel.

Graph of the US dollar index H4. The current price is 91.60.

Hanzenko Anton