Today a number of macroeconomic indicators are going to be released, as well as a number of statements from heads and members of the central banks of Europe and the United States. Therefore, there will be an increased volatility for this pair, as well as almost for all major currencies.
Considering the technical indicators for the moment, as well as taking into account certain political factors affecting the American dollar, such as the postponement of the tax reform by the Senate, we can expect further growth in the euro within the downward channel. Also note that our price can easily overcome the level of 1.1690, so we can expect the price to continue its upward movement to the level of 1.1745.
The RSI at the moment still has not reached the overbought zone and the Stochastic also suggests the purchase. We can open the deals to buy the pair and set up long positions near the next level of 1.1690. We recommend setting the Take Profit order at resistance levels and the upper boundary of the channel.
