Since the beginning of today's trading session the US dollar has been strengthening against a basket of major currencies. Looking at our chart, we see the formation of an uptrend. On the daily chart a reversal began in mid-February and our pair has been steadily growing during this period.
Now the pair is trading near the resistance level of 0.9775, from which a slight correction for the pair is possible.
At the moment we are considering the possibility of entering long positions and expect a further growth in the quotations. Since this trend has settled, we look forward to long-term growth in our pair.
Therefore, we advise to take long positions near the resistance level and set the take-profit in the range of about 100 pp from the entry point.
