Analysis of the American session - Ester Holdings

Analysis of the American session

The US session on Wednesday closed with a general increase in the US dollar on the correction of positions on the American dollar. The reason for the correction of positions was the expectation of the Friday employment report in the United States, forecasts for which deteriorated after preliminary data. Also, American dollar’s support was exacerbated by risks in the eurozone around Italy’s public debt.

The US dollar index, on a rapid correction to the close of the day on Wednesday, formed a reversal in the form of a pinbar, which may indicate attempts to further strengthen the American against a basket of competitors. But, despite the attempts of correction, the downward trend remains, limited to resistance levels: 97.50 and 97.80.

Fig. The US dollar index chart. The current price is 97.30 (10-year US government bonds yield is the blue line)

Read also: “Expectations from the  USD/CAD pair at the end of the year”

Andre Green


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