State of the Market: the market is in anticipation of data on employment in the US

Trades on Monday remain restrained positive for the US currency, demonstrating a marked decrease in negative sentiments for the American. The US dollar is traded with the strengthening at the beginning of the day, thus indicating a slowdown in downward dynamics and demonstrating a noticeable increase against the currencies of the safe haven. As a result, the pressure on the dollar slowed down on shortening of short positions before the publication of the report on employment in the US, which will be released today.

The index of the US dollar against the basket of major currencies is traded slightly above the psychology of 94.00, thereby forming the figure “inverted head and shoulders“, which in the end may indicate attempts at index growth. In conditions of waiting for data on the US, the dynamics of the American will be restrained. Significant resistance levels: 94.20, 94.50 and 94.70, support: 94.00, 93.80 and 93.60.

Also, read: “Fundamental analysis: Influence of inflation indicators on world currencies. 2/2 »

Hanzenko Anton