Analysis of the American Trading Session
The American session on Tuesday was correctional for the US dollar after a decline in the morning. The driver for the recovery of the US dollar against its main competitors was very positive construction data in the United States. Also, investors preferred to adjust the position on the oversold dollar before publishing the results of the US Federal Reserve meeting. As a result, the US dollar index returned to 97.00 in the American session on Tuesday.
At the start of the day, downward sentiment on the American dollar returned to the market on renewed risks. At the same time, Tuesday’s low at 96.70 remains a significant support for the US dollar index until the publication of the interest rate decision. But the pessimism, strengthened by the comments of US President D. Trump in the direction of the Fed will also continue and will put pressure on the US dollar.
The US dollar index chart. The current price is 96.80 (10-year government bonds yield is the blue line)
Read also: “The Envelopes indicator is another simple and effective indicator”
Andre Green
Earn with the help of the trade service on the news Erste News!
Topical articles of the trader’s blog:
- Safe assets and how to trade them in the Forex market.
- Risky assets and how to trade them in the Forex market.
- USA VS China – what means a delay in trade opposition.
Current Investment ideas: