State of the market : the US dollar remains under the pressure - Ester Holdings

State of the market : the US dollar remains under the pressure

Trading on Monday opened keeping the downward trend in US currency. An unexpectedly strong slowdown in the creation of new jobs in the US in February continues to be the reason for the decline of the US dollar.

At the same time, the decline of the American dollar is limited by the growth of optimism in the stock markets, which contributes to the growth of the dollar against safe currencies. Also it is worth noting  a noticeable oversold of the dollar index and its preservation of the upward trend. The dollar index decline is limited by the support zone 97.30-20, which also corresponds to the lower limit of the ascending channel. Resistance is located at levels: 97.50 and 97.70.


Read also: “How long will the rising rally of the American based on the growth of profitability of the US state bonds?”

Hanzenko Anton

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

Topical articles of the trader’s blog:

  1. Emerging markets and their prospects
  2. The US Dollar Index (DXY) as an auxiliary indicator for trading in commodity currencies
  3. To increase or not to increase, the difficult choice of the US Federal Reserve

Current Investment ideas:

  1. Walt Disney shares are ready for the spring growth! Earn on a ready-made investment idea!
  2. Johnson & Johnson shares are growing again! Connect to an investment idea now!

 

Аналитическая рассылка

Analytical newsletter
Subscribe to the analytical newsletter to be up-to-date with current events!

Вы с украины?