Foreign exchange rose sharply on Thursday, with the US dollar index breaking through 100, setting a new high of this week to 100.30. The US dollar generally rose during the economy crisis, as investors were attracted by its security as a global reserve currency.
Market news:
Trump formulated the guidelines for States to restart their economy in three stages, and required the rapid provision of protective equipment for Reopening.
- Trump is working on a package of infrastructure plans that could reach US $2 trillion, and adding US $250 billion to the small business loan program. The US economy is expected to start growing again in the third quarter.
Technical analysis:
One hour chart, the latest low of the dollar index did not fall below the previous low, and the short-term upward trend continued.
The trend of the daily chart is not clear yet, and the 100 resistance is the key point. Only when it is displayed to break through 100 or be suppressed by 100, can the trend be determined. Be patient.
Suggestions for day trading:
Make long position at current price 99.78, target 100.25