The growth of quotations in the area of the psychological level of 110.00 is advisable to use to open Sell positions, inasmuch as weak statistics on employment in the US will have a negative influence on the value of the American currency. The current level of employment in the non-agricultural sector is 147.1 million people, which is 5.3 million less than it was before the COVID-19 pandemic.

Such a high unemployment rate prevents the Federal Reserve from announcing a cut in its stimulus program in the coming weeks, which was launched in response to the pandemic. Keeping stimulus at the same level will increase the already huge surplus of dollar liquidity in the financial system.

Trading recommendation: sell 110.00/110.41 and take profit 109.60.