An uptrend in the US stock market will have a beneficial influence on this currency pair, inasmuch as it is historically correlated with the S&P500 index. By the end of the week, the US Federal Reserve will print $44 billion for the buyback of Treasury and mortgage bonds, which will become a catalyst for the growth of the North American stock market. Additional support for the securities market will be provided by the positive quarterly reporting of American corporations.

At the moment, about 80% of companies have reported revenue growth, and the reporting season is only gaining momentum. Today the following corporations will publish their quarterly results: J&J, Coca-Cola, Verizon.

Trading recommendation: Buy 109.70/109.45 and take profit 110.20.