Today we will be able to observe either the continuation of the dollar rally for the seventh day in a row, or a reversal and correction. During yesterday's trading session the dollar index remained almost unchanged, while US stock markets declined due to fears of a slowdown in global growth rates. Therefore, many investors prefer the dollar as one of the defensive assets. Therefore, we believe that the dollar will be able to continue to strengthen.
During yesterday's trading session the euro began to strengthen against the British pound and was able to stop falling against the dollar, and therefore our pair is now in a correction.
We believe that the downward movement in the pair will resume again and it will be able to overcome the mark of 1.13.
Therefore, we advise you to take short positions on the pair and set a take profit near the 1.1270, 1.1250 and 1.1215 marks.
