Currency market review December 17, 2019

What do we see in the foreign exchange market?

Futures on the dollar index 🇺🇸 continues to trade under a serious onslaught of sellers, trying to lower quotes of the leading world currency below the key area of ​​support for this market.

So far, the US stock index has hit the highs - the dollar has a hard time, however, the US economy does not need a steady course of dollar right now.

The general mood is trading under pressure.  Trading is still above the key area of ​​price support, which gives chances for a change of forces in the market and the transition of the market to the upward phase.

European 🇪🇺 trade in the lateral interval paired with the dollar continues.  So far, the price has not managed to exit it yet.

This week test 1.11700 is expected, a false breakdown is not excluded. The big picture: controversial.

The British pound 🇬🇧 showed a record growth against the dollar amid Johnson's party victory in the election to the Parliament of Great Britain in 2019.

Technical indicators show that the Britain is seriously overbought, what can provoke a medium-term downward correction in it's currency.

One way or another, the market needs a break.  Probably, within the framework of this week, sellers will be able to seize the initiative and trade will unfold in a downward manner, but don't forget, a major player in this market still holds a long.

Profit-fixing will mark a serious rollback in prices amid high volatility.  The overall market sentiment is a downward correction.