The S&P500 broad market index is trading at historical maximum, which is favorable for this currency pair, inasmuch as it has been historically correlated with the broad market index. The growth driver was the shares of the technology sector, insofar as the leaders of the Federal Reserve still cannot work out a single line regarding changes in monetary policy.

A smaller part of the FOMC calls for the start of cutting the QE program at the July meeting of the Federal Reserve, the majority, led by Chairman Powell, suggest waiting for an improvement in the labor market. As the Fed continues to print money and keeps its interest rate close to 0%, investors are eagerly buying up high-tech stocks now.

Trading recommendation: Buy 110.40/110.20 and take profit 110.90.