State of the market: the US dollar declines on movement against Friday

At the start of the new week, Asia Pacific stocks traded below zero, following the negative close of the week on Wall Street. The reason for the resumption of pessimism in the market was evidence that expectations regarding a decrease in the intensity of trade relations between the US and China are exaggerated, the White House economic adviser said. The US dollar managed to close Friday with growth on this information and employment data. At the same time, the downward trend in the dollar remains.

The US dollar index remains near significant resistance 96.50-60, which limits the recovery of the American dollar. In the face of growing optimism in the market it is possible a move against Friday with a test of support levels: 96.30-20 and 96.00. A market return to pessimism will open the way for the resistance test 96.80.

Read also: “Norwegian krone. Features of trading Scandinavian currencies “

Hanzenko Anton

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

Topical articles of the trader’s blog:

1. Dow Theory – The price discount all the news!
2. Oil market expectations for November
3. GDP of the world’s fast-growing economies

Current Investment ideas:

1. “3 reasons to buy  Cisco Systems Inc. shares”
2. “It’s time to hit the jackpot on the sale of McDonalds shares!”