State of the market: the market is restrained at the start of the week
At the opening of the new trading week and month, the main currency pairs are trading very restrained within the close of Friday. The ambiguous dynamics of trading on Friday and the lack of meaningful statistics at the start of the week increased the uncertainty in the market. The stock markets at the opening of Monday trades show significant growth, mainly due to Chinese stock indices. Highly likely that it will be moved to the stock markets of Europe. On the continued growth of optimism, we can expect an increase in demand for risky assets. Market restraint and the absence of significant news will continue to have a restraining effect on the market.
The US dollar index at the opening of the week is trading with a moderate strengthening, maintaining optimism after Friday’s growth. It is worth noting the possibility of correction of the American dollar to the support of 96.30-20 for the correction and the growth of optimism. A limiting factor in the decline of the dollar will be the upward trend, which is limited by resistance levels 96.50-60.
Read also: “Expectations from the NZD/USD pair at the year’s end”
Hanzenko Anton
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