The main drivers of the market: stock indices and oil - Ester Holdings

The main drivers of the market: stock indices and oil

Before the opening of American stock exchanges, the US dollar demonstrates attempts to correction, after updating the weekly low at 93.30.

European stock indices, by contrast, continue to trade with the strengthening from the beginning of the day, despite the mixed closing of trading in the Asia-Pacific session. Preservation of the optimistic sentiments of Europe with high probability will be transferred to the Wall Street trading floors. As a result, one should expect the recovery of the American.

An additional factor of optimism, which can be traced in the market, is the dynamics of oil, which is traded near fresh highs. See “Oil (current news)”.

The US dollar index found support near support levels: 93.40 and 93.20, which also correspond to the lower boundary of the rising channel, traced from the middle of April. Therefore, from the mentioned support levels, one should expect repulsion. The levels of support are: 93.80 and 94.00.

Fig. the US dollar index. The current price is 93.50 (the yield of 10-year government bonds is a blue line)

Also, read: “Technical Analysis – Three Lightning Signals That Work!”

Andre Green

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