The start of the corporate reporting season in the United States was on a positive note. The largest US business giants JPMorgan, PepsiCo and Goldman Sachs have published financial results for the second quarter, which exceeded investor expectations. After the publication of quarterly reports, the American stock index S&P500 renewed its historical maximum and came close to the psychological level of 4400 points.

Bank of America, Wells Fargo&Co and Citigroup will publish their releases tomorrow. These reports can again delight investors with positive data, which will have a positive influence on the capitalization of the stock market. This is a favorable signal for this currency pair, inasmuch as it is correlated with the S&P500 index.

Trading recommendation: Buy 110.35/110.10 and take profit 110.80.