State of the market: the American is in uncertainty

On Tuesday, the major currency pairs are traded at the opening level of Monday, indicating a market uncertainty, especially after yesterday’s rapid US dollar growth and subsequent correction. As a result, the market remains in a sideways trend and uncertainty, which is exacerbated by the trade confrontation between the US and China.

In the conditions of correction of the American, after yesterday’s growth and risk reduction, at the beginning of the day, appreciable support was given to commodity currencies. In this case, the raw material itself remains very restrained, which may indicate the limited nature of this movement.

The dollar index, despite the preservation of correction, remains in the established traded range from 89.80 to 90.10. This movement also points to the uncertainty of the market, which in the end may indicate both the resumption of the decline of the American, and the continuation of growth, with the breakthrough of one side of the side channel.

Graph of the US dollar index. The current price is 89.90.

Hanzenko Anton