State of the market: the American dollar is waiting for drivers to move

At the beginning of the week, the US dollar and most of the currency pairs are traded at the opening level of the week. The index of the US dollar against the basket of major competitors is trading lower, keeping the downward dynamics of Friday and limiting risks from the upcoming news that will be released this week.

Despite the fact that the US currency is traded in the trading range from 94.60 to 94.80. The US dollar index forms a “head and shoulders” figure, which will further indicate the possibility of narrowing to support levels: 94.50 and 94.40.

Read also: “Moving Averange as an indicator of the strength of the trend”

Hanzenko Anton

Earn with the help of the trade service on the news Erste News!

Topical articles of the trader’s blog:

1. In Focus: Analysis of transactions for a EUR/USD pair during the week
2. Stock indices: European Union
3. Emerging markets and their prospects: Russian Ruble (RUB)