The negative net of the US trade balance amounted to $66.6 billion in December, which is 36.2% more than a year earlier. At the end of 2020, the negative balance amounted to $676.7 billion. This is unfavorable signal for the American currency, inasmuch as a substantial increase in imports will promote the devaluation of the dollar.

The situation on the interbank lending market has not changed and dollar interest rates are at historic minimum. Against this backdrop, I expect the continuation of the upward trend in this currency pair and the growth of quotations to the 1.3780 area.

Investment idea: Buy 1.3719/1.3699 and take profit 1.3775.