09.05.201809:27 Forex Analysis & Reviews: The US withdraws from a nuclear deal with Iran

The US dollar continues its major upward trend against a number of risky assets, especially against the European currency.

Yesterday's speech by the Chairman of the Federal Reserve, Jerome Powell, and a number of good fundamental statistics led to the renewal of the next lows in the EUR/USD pair.

According to the report of the National Federation of Small Business USA, the small business index in April this year, compared with March, rose to 104.8 points. These data practically coincided with the forecasts of economists.

The consumer sentiment index, according to the University of Michigan, fell slightly in April this year. It is important to note that this index reflects the moods of households and their confidence in the US economy. According to the data, in April this year compared with March, the index fell to the level of 98.8 points. However, the index rose compared with April 2017.

As for the technical picture of the EURUSD pair, so far there is not a single hint of a reversal of the downward trend. A breakthrough in the support level of 1.1830 could lead to a new large wave of euro sales, with a yield to the lows of around 1.1790 and 1.1740. The main goal of the bears will be the test area of 1.1700. You can count on an upward correction in the euro only after the return and consolidation at the resistance level of 1.1880.

Yesterday, important attention of traders was focused on the evening performance of US President Donald Trump, who made a number of statements related to the Iranian nuclear deal.

The US president called Iran a regime of great terror, and a nuclear deal by a terrible unilateral agreement. Trump said that the US would withdraw from the nuclear deal.

Despite a number of harsh statements, a number of other countries did not support the withdrawal from this program.

For example, French President Macron said that France, Britain, and Germany regretted that the US decided to withdraw from the nuclear deal with Iran. The EU representative Mogherini noted that as long as Iran fulfills the terms of the nuclear deal, the EU will remain committed to the full implementation of this agreement.

According to Donald Trump, if you do not withdraw from a nuclear deal with Iran, then the nuclear arms race will begin in the Middle East.

It also became known that the United States will once again introduce economic sanctions against Iran at the highest level, and sanctions will be imposed against any countries that help Iran in terms of nuclear weapons.

The US President also noted that if Iran continues to pursue its nuclear goals, it will face more significant problems than ever before.

The main attention was attached to oil quotes, which before the performance fell sharply to the level of $67 per barrel by the WTI brand, and then continued their growth, returning to a monthly high of around $ 71 per barrel. Most likely, the upward trend in black gold will continue.