The dollar continues its rally. The dollar index rose to 96.20 and has continued to rise since January 31.
The EU data released this week show mixed dynamics, but for the most part they do not contribute to the strengthening of the reserve currency.
The ECB’s monthly monetary policy report released today did not impress investors and the pair continues to decline.
After the price reaches the level of 1.15, we would observe the emergence of a powerful downward impulse for the pair. Technical indicators indicate that it is necessary to take short positions in the pair.
At the moment, the pair has moved more than 150 points from the level and we believe that the downward movement will continue.
Therefore, we advise you to take short positions in the pair and consider as your goals marks near levels 1.13 and 1.1210 from which we can expect a correction.
