State of the market: the dollar is restrained after Friday’s growth

At the opening of trading on Monday, the main dynamics of the market is aimed at a moderate correction against Friday, as a result of which the US dollar strengthened significantly. The growth of fears for the exacerbation of the US – China trade confrontation, which as a result persists at the opening of the week in the form of negative dynamics of stock indices in the Asia-Pacific region, was the driver to the growth of the dollar.

At the start of the week, the US dollar index was traded with a slight decrease, remaining near a significant resistance of 96.70. With the persistence of pessimistic sentiment in the market, the upward dynamics of the dollar will continue, but will be limited to attempts of correction  and support levels: 96.50 and 96.30.

Read also: “New possibilities of the good old RSI indicator”

Hanzenko Anton

---

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

Topical articles of the trader’s blog:

1. Brexit vote results
2. Prospects for Boeing shares after the planes crash
3. The US Dollar Index (DXY) as an auxiliary indicator for trading in safe haven currencies

Current Investment ideas:

1. Walt Disney shares are ready for the spring growth! Earn on a ready-made investment idea!
2. Johnson & Johnson shares are growing again! Connect to an investment idea now!