State of the market: pessimism persists in the market
With the opening of trading on Tuesday negative sentiment can be traced in the market. The reason for the preservation of pessimism was the aggravation of the trade dispute between Japan and South Korea about the industrial metals. This was the reason for the exacerbation of trade tension in the region and had a negative impact on the currencies of the Asia-Pacific region and stock indices.
From the start of the day, the US dollar index has kept a restrained upward trend, receiving support from risks and from signs of growth in the US economy. But it is also worth noting that the US dollar index is limited to overbought and resistance levels: 97.60-50 and 97.80. At the same time, the ascending channel with the support levels of 97.30 and 97.10-00 remains restrained.
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Hanzenko Anton
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