State of the Market: the market is under the pressure of negative sentiment - Ester Holdings
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State of the Market: the market is under the pressure of negative sentiment

After the negative closure of European stock exchanges on Monday, Tuesday’s trades opened with the negative sentiment, which confirms the withdrawal of stock indices in the Asia-Pacific region below zero. The reason for maintaining a pessimistic attitude continues to be political risks in Europe and negative expectations about oil.

Yesterday, the single currency was under considerable pressure on the data that Italy is expecting new parliamentary elections. As a result, the euro weakened across the entire spectrum of the market, and the US dollar renewed its annual maximum against the basket of world currencies.

Against the backdrop of the general negative, a small ray of optimism comes from oil, which at the beginning of the day shows a slight increase, mainly due to correction. At the same time, the recovery of oil prices may serve as a signal to recover optimism in the market.

But the market is more inclined to escape from risks, which is seen in the strengthening of the yen. The American, in contrast, is limited to overbought and corrected from the level of 94.50. But the general upward dynamics of the American is maintained, which confirms the renewal of the annual maximum and the preservation of the uptrend.

Also, read: “Analysis of Japanese candles – the main candle models


Hanzenko Anton

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