State of the market: the market is in power of negative sentiment

After the sale of US currency on Monday, the US dollar index is trading at 96.20. The reason for the decline in the US dollar index was a sharp deterioration in optimism about the possibility of a further increase in US rates after the comments of the US Federal Reserve representative. The additional pressure on the dollar and the market as a whole was exerted by the growth of pessimism, which provoked the strengthening of safe havon assets.

At the opening of trading on Tuesday, the US currency shows a moderate movement in a sideways trend, limited to support levels: 96.20 and 96.00. These support levels are also met by the lower limit of the two-month uptrend, which is expected to slow the decline in the US dollar.

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Hanzenko Anton

 

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