State of the market: the dollar strengthens on the possibilities of Tthe US-China trade deal

With the opening of trading on Tuesday in the financial markets, there are attempts to increase optimism. The reason for this was another statement by the US President D. Trump regarding successful trade negotiations with China. He added that they will satisfy both parties. Such a statement had the effect of reducing pessimism due to the fact that the United States and China continue to seek compromises, despite the fact that they exchanged trade duties.

From the start of the day, the US dollar index has been trading above support at 97.30, indicating a slowdown in the decline in the US dollar index. But It is worth noting that the weekly descending channel on the American dollar is maintained, despite attempts to slow down. Talking about the formation of a reversal of the dollar will be possible after breaking through the resistance of 97.40-50. The factor that limits American dollar growth is overbought and risk retention. Support levels: 97.20 and 97.00.

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Hanzenko Anton

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

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