Analysis of the past day

On Thursday, November 16, the market showed a very restrained and multidirectional dynamics in the major currency pairs. The reason for such an ambiguous dynamics was provided by the resumption of demand for the US currency and the growth of stock indices, which eventually allowed the American to adjust slightly against the main competitors. However, the market did not manage to develop the upward dynamics of the dollar due to a decrease in optimism and weak data on the US.

Despite this, the US dollar index managed to noticeably slow downward dynamics and retreat from the support levels. Of course, it is not exactly clear, this is a correction or a reversal. But, given the formation of pinbar on the daily chart of the US dollar index, one can expect the recovery of the American.

Expectations for the dollar index remains in force. The index remains limited to the level of 93.900, the breaktthrough of this level will open the way to 94.400-500. A weekly minimum 93.400 is a significant support.

Anton Hanzenko