State of the market : pessimism returns to the market
With the opening of trading on Friday the growth of negative dynamics can be traced in the stock indices of the Asia-Pacific region, which is concentrated near China’s stock indices. The reason for the growth of pessimism since the beginning of the day was the information that China raises duties on American and European steel. This indicates a tightening of the trade war by China.
The index of the US dollar since the beginning of the day continues to trade near the weekly highs, receiving support. The return of an American dollar above 97.00 indicates the formation of a correction after a long decline. But the American dollar is also limited in growth by overbought and resistance levels: 97.20 and 97.30. Support levels: 96.90 and 96.80.
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Hanzenko Anton
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