Analysis of the American Trading Session
The American session on Thursday closed with a general strengthening of the American currency against a basket of competitors. The driver for the strengthening of the US dollar was the decline of the euro on the publication of the ECB meeting results and the press conference of M. Draghi. Despite some positive notes, the overall tone of the ECB remained soft, not to mention the decrease in inflation in the eurozone and in Germany’s GDP.
The US dollar index on Thursday updated the high at 96.70, indicating the continued upward trend in the American dollar. General upward trend in the dollar has slowed, indicating a restraint in dollar growth. On Friday, a correction against a Thursday is observed in the US dollar index, which is limited by an upward trend. Support levels: 96.20 and 96.00, resistance: 96.50 and 96.70.
The US dollar index chart. The current price is 96.40 (10-year government bonds yield is the blue line)
Read also: “Features of Trade on Bollinger Lines”
Andre Green
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