We have a powerful downtrend.

Despite the controversy over trade tariffs between the US and China, the dollar continues to strengthen. Furthermore, Donald Trump recently voiced his dissatisfaction with the fact that farm products from the US have problems with entering the EU markets. Against the background of these statements, the dollar's rate not only did not fall, but also began to strengthen.

On our chart we observe a powerful downward impulse. Data released on primary housing in the US showed the strength of the economy and helped to strengthen investors' optimism.

At the moment technical indicators also show a sell signal and our pair still has not found the level of resistance, continuing its movement.

We believe that this trend will be preserved in the coming days and we advise to take short positions on this pair. A possible level of resistance may be the level of Fibo 61.8, which is placed at around 0.7530.