State of the Market: American remains optimistic

After ambiguous data on employment, the US dollar continues to strengthen its positions. The maintainance of optimism for the American is caused by the growing differential in the economy of the US and Europe, which are the main competitors. Also support for the dollar is provided by the restrainedly positive dynamics of the US stock markets, which are strengthened against the background of the positive dynamics of European sites and a decrease in the profitability of the US state bonds.

At the same time it is worth noting the possible limited growth of the dollar. So, the US dollar index is trading at the highs of 2018, while remaining significantly in overbought zone on the older timeframes and has no explicit support from the fundamental factors. Also, do not forget about the upcoming weekend, which will force investors to adjust positions. Therefore, the main resistance levels for the dollar index are the marks: 92.80 and 93.00, support: 92.40 and 92.20.

Hanzenko Anton