State of the market: market optimism continues to grow

At the opening of trading on Tuesday, the market increased optimistic sentiment. The reason for this was the evidence that the Chinese trade delegation went to the United States. As a result, optimism increase sharply regarding the US – China trade talks, despite the lack of significant data. Published data on business activity in the services sector in China did not meet market expectations and showed a continued decline. But the market ignored the weak data for China, completely focusing on the expectation of the results of trade negotiations.

From the start of the day, the US dollar index has remained under moderate correction after growth, being limited to the side channel. The growth of optimism in the market restrains the American dollar, but in the future it may serve as an occasion for the formation of upward dynamics. Significant resistance is located at the levels: 99.00 and 99.20, support: 98.80 and 98.70.

Read also: “Currency is a weapon in a trade war!”

Hanzenko Anton

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

Topical articles of the trader’s blog:

1. What indicators choose Forex traders (Part 2)
2. Stock indices are ready to renew a historical high
3. What indicators choose Forex traders (Part 1)

Current Investment ideas:

1. One more opportunity to earn in October! Sell ​​#CAT shares now!
2. Several reasons to buy Cisco Systems, Inc. shares in October. Let’s earn Together!
3. Technology giant Microsoft is getting ready to storm new highs! Let’s make money on it!