State of the market: stock markets recover earlier in the week

Stock indices in the Asia-Pacific region are traded with a slight strengthening on the recovery and growth of optimism with the opening of Monday trades. The main factor for the decline in the indices are the Chinese markets, that are the source of pessimism. The general sentiment in the market remains restrainedly positive and retains the potential for growth, despite  general downward trend.

The US dollar index has been trading in the range from 96.30 to 96.50 since the beginning of the day, a kind of reversal zone after Friday’s decline on the correction of positions before the weekend. The main uptrend on the US dollar index remains, which indicates the possibility of the dollar rising at the level of 96.50,  confirming keeping the uptrend. A significant support is the level of 96.30-20, the breaking of which would cast doubt on the safety of the uptrend on the American dollar.

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Hanzenko Anton

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