The main market’s drivers

European and American stock indices traded below zero for general negative sentiment. As a result, commodity currencies remain under pressure, and European currencies are restrainedly strengthening against the American dollar for correction. At the same time, the growth of pessimism is in favor of the US currency, which, in turn, is limited to a correction on the expectation of an employment report in the US (NFP).

The US dollar index, within the framework of the correction, reached the first significant support at the level of 95.70, which corresponds to the lower boundary of the upward channel of recent weeks. General upward trend for the American dollar remains, despite the expectation of an employment data in the United States. The second support is located at 95.50-40. The area from 95.70 to 95.50 is an accumulation zone, which is characterized by a short flat and waiting position.

The US dollar index chart. Current price – 95.70 (10-year government bonds yield is a blue line)

Raed also: “Correction on the Elliott Wave Theory”

Andre Green

Earn with the help of the trade service on the news Erste News!

Topical articles of the trader’s blog:

1. Trading with shares. Advantages and disadvantages.
2. Does Monday is so hard  as everybody say?
3. How to trade CFD contracts with Ester Holdings Inc.?

Current Investment ideas:

1. Preparing to have profits on an optimistic report of Alcoa Inc.!
2. On weak reporting of Boeing shares we can get a strong income!