The day before, the United States published a release on inflation for December. The consumer price index has increased by 0.2 p.p. up to 1.4%. Thus, the negative true interest rate in the United States increased from 1.11% to 1.31%. This level may remain in January, insofar as the rise in oil prices will help to increase the consumer price index. At times when the negative true interest rate increases in the United States, the US dollar declines.

Against this background, it is advisable to use the growth of quotes for this currency pair to open Sell positions.

Investment idea: Sell 104.16 / 104.34 and take profit 103.69