Analysis of the European session
Trading in the American session was limited because Thursday was a day off in the United States (Independence Day). Activity throughout the day was reduced. So, trading on the European trading session on Thursday also did not have a significant market movement. The market continued to be limited by uncertainty about the US-China trade talks and the expectation of a US employment report.
Against the background of it, the major currency pairs and the US dollar index continued to be traded in the established multi-day side channels. The US dollar index has been trapped in flat since Tuesday, limited to resistance levels: 96.90-80 and support: 96.70-60, while waiting for the main event of the week – the US employment report.
Fig. The US dollar index chart. The current price is 96.80 (the yield on 10-year US government bonds is the blue line)
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Andre Green
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