State of the market : the market remains under risks’ pressure
On Monday trading on the foreign exchange market is aimed at correction of the US dollar against Friday growth, which is due to technical correction. At the same time, the preservation of risks around the US trade confrontation and the growing trade confrontation between the United States and Canada, contribute to the risk in the world market and the growth of the US dollar as an asset of a safe harbor.
It should also be noted that the negative start of the stock indices in the Asia-Pacific region was caused by worsening pessimism, which was strengthened by weak statistics on retail sales in Australia and business activity in China.
Technically, the US dollar index remains in the overbought phase after Friday’s growth, which gives grounds for the formation of the movement against Friday, but this will require the restoration of European stock exchanges, which is likely to be limited to low activity by the end of the day due to a weekend in the US and Canada . At the same time, the strong support for the US dollar index is marked by: 95.00 and 94.80.
Read also: “Money Management on FOREX”
Hanzenko Anton
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