The dollar continues to enjoy the support of investors amid expectations of the adoption of a new tax reform, but Donald Trump requires the Senate's support for the implementation of the tax changes. At the same time, Republicans are developing another form of tax reform, as many senators oppose a substantial increase in the budget deficit.
Today will yield data on the number of vacancies in the labor market (Jolts) and we would hear from the current Fed chief Janet Yellen.
Currently, our pair is trading at the psychological level of 1.000 and trying to consolidate above that level.
Our technical indicators also give us signals to buy. The stochastic came out of the ADX and the RSI is oversold, showing us signs to buy.
Our objectives right now are to buy in the area of the level of 1.000 with the immediate target 1.040. In the case when the price would not be able to consolidate above this level, the price is expected to pull back to the level of 0.9945.
