The main drivers of the market: the American remains under pressure of correction - Ester Holdings

The main drivers of the market: the American remains under pressure of correction

After very optimistic data on the euro zone, pessimism against the euro has decreased, thereby provoking a correction of the euro, which is also supported by the data that Italy is not stopping attempts to form the ruling government. Against the background of the correction of the euro under pressure turned to be the US dollar and the Japanese yen, mainly against commodity currencies, which are growing on the strengthening of the cost of oil and stock exchanges.

The US dollar index broke through significant support at the level of 94.50-40 and headed to the lower border of the rising channel, which runs near the mark: 94.20-00. In addition to restoring the euro, pressure on the American is exerted by the growth of the yield of 10-year US Treasury securities and correction of positions on the American before Friday’s report on employment in the US. As a result, the market follows the principle of “from the extreme to the extreme,” which indicates a lack of clear sentiment in the market. As a result, one can expect the formation of a flat relatively soon.

Graph of the US dollar index. Current price – 94.20

Also, read: “Scalping – Disadvantages and Advantages”

Hanzenko Anton

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