Analysis of the American session

The US trading session on Tuesday closed with a decrease in the US dollar across the market. Earlier, the US dollar index peaked the high of May 2017, but weak data on business activity in the US manufacturing sector and overbought of the American returned the US dollar index to the opening of the day level. Such a rapid decline in the dollar is limited by the resumption of the US government bonds yield and technical oversold, which will limit the weakening of the American dollar in the future.

General dynamics of the US dollar against a basket of competitors remains upward, limited by support levels: 98.70 and 98.50.

Fig. The US dollar index chart. Current price – 98.80 (10-year US government bonds yield – blue line)

Read also: “G20 Summit – what to expect and to beware of”

Andre Green

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

Topical articles of the trader’s blog:

1. Currency is a weapon in a trade war!
2. How far the prospects for USD/JPY may be downward
3. What does the US Fed Chairman Powell statement mean for the US dollar

Current Investment ideas:

1. Selling Alcoa shares makes a profit! Three reasons to connect now!
2. The trade war for Boeing: good or bad and how can we make money from it!