Analysis of the past week - Ester Holdings

Analysis of the past week

The first trading week of 2019 is closed by the growth of the US dollar index, despite the multidirectional dynamics that have been traced throughout the week. In the context of low trading volumes that have persisted from the start of the year, the US dollar index at the beginning of the year updated a low at the level of 95.80. Then followed the upward correction with the resistance test 96.90. The main driver of trading were general sentiment, which depended on fundamental factors.

Toward the end of the week, the US statistics began to set sentiment for the US currency. Thus, the US jobs report returned optimism for the American dollar and kept upward dynamic in recent days. Closing the US dollar index above the level of 96.50 will indicate that the uptrend will continue and will open the way to resistance levels of 97.00 and 97.20. At the same time, it can be limited by overbought and correction of level 96.70-80.

The US dollar index H4 chart. The current price is 96.50 (10-year government bonds yield is the blue line)

Hanzenko Anton

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