Analysis of the European and American session
Trading on Tuesday closed with a general strngthening of American dollar. The reason for such a rapid strengthening of the US dollar was the weakness of the euro, technical factors and optimistic data on the real estate market in the United States. Together, it allowed the American dollar to continue the upward trend against a basket of major competitors.
Trades at the American session were distinguished by a moderate correction after growth, having rebounded from resistance 97.80-70. In conditions of maintaining optimism from the beginning of the day on Wednesday, we can expect from the American dollar to repeat the test of resistance levels: 97.80 and 97.90. Further growth of the American dollar will be limited by the overbought and the limits of the ascending channel. Support is located on the marks: 97.60 and 97.50.
Fig. The US dollar index chart. The current price is 97.70 (10-year government bonds yield is the blue line)
Read also: “Candlestick Analysis. The main candlestick patterns“
Andre Green
Earn with the help of the trade service on the news Erste News!
Topical articles of the trader’s blog:
- Expectations from the USD/JPY for the end of April – early May
- U.S. and E.U. Trade War
- Gold: results and forecasts
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