By the beginning of the trading session, the US dollar continued to lose ground. Currently we don’t expect the release of important indices which would be able to significantly affect the market and create a reversal formation. The dollar index declines and shows a downward trend.
Considering our chart, we observe an upward trend against the background of the weakened dollar. Given the technical indicators, we can assume that the pair will continue the upward movement. Therefore, we will look for points to enter long positions.
After the New Year's holidays, we can observe the growth of trading volumes and the relative increase in volatility in the market. In addition, today we expect the first day of trading in the US, which will give impulse to the markets and, most likely, will strengthen the formed trends.
Our trading recommendation is to look for points near the level of 0.7820. The medium-term targets will be 0.7860 and 0.7890.
