Analysis of the American Trading Session
The American session on Thursday closed with restrained movement of the American currency near the highs. The driver for the strengthening of the dollar throughout the day was ambiguous market sentiment, expectations of easing of monetary policies by world banks and optimistic data on the US GDP.
The main strengthening of the American dollar fell against the safe haven currencies, which was caused by the reduction of risks and the positive dynamics of stock indices. As a result, the US dollar index updated the last weeks’ high at the level of 97.30. Further strengthening of the American dollar was limited by its overbought. In the conditions of the close of the trading week from the dollar index is expected to adjust to the support levels: 97.00 and 96.80.
Fig. The US dollar index chart. The current price is 96.20 (10-year government bonds yield is the blue line)
Read also: “Price Levels – A Technical Analysis Tool”
Andre Green
Earn with the help of the trade service on the news Erste News!
Topical articles of the trader’s blog:
Current Investment ideas: