The USD Keeps Moving Down

eurusd

The last week of summer begins. Friday events shocked the trading platforms and the participants. Although, during Friday’s briefing, Mr Paul said that the dollar’s position is easier to tighten, strengthen rather than weaken. Today is a day off in many countries.


Therefore, we will observe how the consequences of the events of Friday unfold. We expect some activity after the European session and the American one. Thus, the volatility of the USD currency should appear. 


We expect that the market will shake precisely because of the aggravation of relations between the USA and China. We do not expect other significant events for this week. And there are no influential occasions in the economic calendar. 


The USD index is at the position of 97.90, and this is the level where the stop should be placed if you were in a short strategy. We can say that there was a flash crash in positions and the downward movement is a priority for us. For futures of the index USD, the situation is about the same.


Prices are advancing downward. The main activity should be played below the position 97.80 – 97.65