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

At the opening of trading on Tuesday, the US dollar showed a growth against most of its major competitors. The driver for the strengthening of the US dollar was the technical correction of the American dollar and the lack of optimism in the stock markets, which, after long-term growth on the optimistic expectations of the US-China trade negotiations, slowed the growth, actually indicating correction and uncertainty in the stock markets.

The US dollar index returned to a strengthening in trading on Tuesday, after updating the low at 96.60, caused by a decline in low activity. The reason for the growth of the dollar, in addition to a decrease in optimism, was the technical factor and the formation of the inverted head and shoulders reversal pattern. As a result, the American dollar retains the potential to strengthen after the expansion of the uptrend. The US dollar index is limited by resistance levels: 97.00 and 97.20. support is located at the levels: 96.70 and 96.50.

Hanzenko Anton

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