The US dollar continues its rally and strengthens against a basket of major currencies, including the Canadian dollar. Despite the rise in oil prices, the US dollar is bullish and its quotation is increasing. At the moment we expect further growth in the reserve currency.
Today a number of macroeconomic data from the United States will be released. Among that, a speech by US President Donald Trump will take place. Given the temperament of the head of the White House and his sometimes harsh statements, volatility in the markets may increase.
Now we recommend taking long positions and playing in favor of the dollar. Entry and exit points are at the support and resistance levels of 1.2930, 1.3000 and 1.3080.
