This week’s data on retail goods in the US strengthened investors' expectations of higher interest rates this year. Against this background the dollar index strengthened and reached the figures from December 2017.
In our pair we are also seeing a strengthening of the dollar and a growth of this instrument.
Considering the chart, we see that after a powerful upward momentum the pair has stopped. At the moment the price has consolidated in a small corridor, but soon we expect a resumption of growth. The pair managed to gain a foothold above the psychological mark of 1.0 and will soon resume growing.
We advise you to take long positions after the completion of this corrective movement. At the moment on earlier charts technical indicators also display a buy signal. The points for exit should be around the marks of 1.050 and 1.090.
