After the release of yesterday's inflation data, we saw an increase in stock indices and a weakening of the reserve currency, which was reflected in all other pairs, not in favor of the dollar. The dollar index showed a sharp decline, reaching its lowest since December 2014.
To date, we expect the release of a number of macroeconomic indicators from the US, which can further push the dollar to decline.
From the UK today we do not expect the release of economic indicators and, considering the chart, we see a prevalence of bullish sentiments. Our pair has fixed above the psychological mark of 1.4 and the MACD histogram crossed below the zero mark.
Therefore, we would look for points to enter long positions, setting targets near the levels of 1.4120 and 1.4190. The cancellation of this scenario will be a reverse breakdown at the level of 1.4000.
