Right now we expect a number of macroeconomic indicators. Today data on the growth of the GDP of the United States for the third quarter will be published, as well as the index of production activity from the Federal Reserve Bank of Philadelphia. In the United Kingdom today we expect the consumer confidence index Gfk, which is a leading indicator predicting consumers' spending.
The expectation of the adoption of the tax reform was played by the market earlier, therefore at yesterday's auctions the dollar weakened its positions. The dollar index fell to 92.94.
Considering the schedule, we see that our pair is in the price band and at the moment the price is corrected and directed upwards.
Based on technical indicators, we can assume that our pair will begin an upward movement when the Stochastic comes out of the oversold zone.
Our trading advice is to enter the long positions with trading targets at 1.3400 and 1.3440.
