Market conditions: the market is in the consolidation phase

After the very rapid growth of the US dollar at the beginning of the European session, in anticipation of the results of voting on tax reform, the market gradually moved into a correction phase and took a waiting attitude. The British also continued to strengthen its position against the main competitors based on the growth of optimism, but closer to the US session weakened the onslaught.

Before the opening of the American session in the market there is some consolidation with the movement against the beginning of the day, which is partly caused by the dynamics of stock indices and raw materials.

The US dollar index moves within the previous trading day, thus keeping the potential for a decrease on the rebound from the resistance level of 93.400 and the upper boundary of the descending channel. The nearest support: 93.000 and 92.800, the breakdown of which will open the way to 92.400 and resume the downward trend of the American.

Graph of the US dollar index. The current price is 93.100.

Hanzenko Anton