I expect the continuation of the uptrend in the American stock market, which will have a favorable influence on the value of this currency pair. Tonight the US Federal Reserve will buy $8.4 billion in Treasury bonds as part of its open market operations, which is the highest volume this week. The Fed continues to stimulate the economy, which leaves investors no choice but to buy back technical corrections in the stock market.

For example, the yield on US 10-year Treasury bonds is only 1.27% now, which is several times lower than inflation. Banks and investment funds cannot cover inflation through the purchase of state bonds, so they will have to increase the share of equities in their portfolios, even if they don’t want it.

Trading recommendation: Buy 109.40/109.15 and take profit 110.10.