State of the market: the market is restrained due to the low activity

At the low-active opening of Monday trades the main currency pairs are trading at the opening of the day level. It is caused by reduced market activity on Christmas Eve. The main driver of trading on Monday is the Asian trading session, which shows an increase in activity. Today European platforms are open for trading also, but they will be limited to early closure, which will keep market activity low throughout the day.

The US dollar index opened the last trading week of the year with a slight decrease in the correction against Friday’s growth, thereby indicating that risks for the American dollar are still there and that it is possible to decrease. The US dollar index continues to be limited by the downward trend and resistance levels of 97.00-20. Support is located at marks: 96.70 and 96.50.

Read also: “Market analysis: undervalued and overvalued stocks”

Hanzenko Anton

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

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