Buy on a level breakthrough of 1.0774 with 1.0833 target. Stop loss = 1.0724.
Reason for the trading strategy
The US dollar shows an adjusting decline in the foreign exchange market since the beginning of this week The import prices in the US fell by 0.5% (m/m) in October. Meanwhile, the annualized rate of decline in the index fell from -10.7% (y/y) to -10.5% (y/y). The US inflation data for October, which will be published on November 17, will be critical for determining the beginning of the interest rate tightening cycle in the United States.