The dollar's rate continues to strengthen against the basket of major currencies. Since the beginning of this trading week the Dollar index was fixed above the level of 90.00 and demonstrates growth. After the pair reached the maximum mark in February of 2014, the uptrend weakened. On the daily chart our pair has just fallen below the sliding MA (86) at the moment, which, if fixed at this level, can signal a change in the trend.
On the 4-hour chart we see a powerful downward momentum and at the moment the pair has not found the resistance level.
Technical indicators also signal a downward movement. The MACD is at a zero mark, while the Stochastic has not yet come out of the oversold zone.
We advise to take short positions and aim to set the levels of 1.21 and 1.2050.
