Analysis of the American Trading Session

The US dollar at the American session showed a rapid correction at the break from the support level of 93.80-70, which was due to technical correction and a decrease in optimism in the stock markets. But the market is still very cautious with dollar purchases on the growth of stock exchanges.

On the other hand, the slowdown in the growth of optimism and the formation of significant support for the American may indicate the end of dollar sales and the formation of attempts at growth. So, the main levels of support for the US dollar index are the marks: 94.00 and 93.80. To confirm the rising dynamics, the American needs to gain a foothold above noted 94.30-40.

Graph of the US dollar index. The current price is 94.10 (the yield of 10-year government bonds is a blue line)

Also, read: “Trade Against the Trend in Examples”

Andre Green