I expect a continuation of the uptrend in the American stock market, which will support this currency pair, inasmuch as assets are correlated with each other. American banks still have a substantial surplus of liquidity and daily place about $800 billion in accounts with the Fed at a rate of 0.15% per annum.

Insofar as bankers also have a surplus of capital, they will use the correction in the stock market to buy securities, inasmuch as stocks can bring them a higher return than the rate indicated above. Until the Fed stops issuing dollars, bankers will have excess liquidity. The Fed does not even think about turning off the “printing press” now.

Trading recommendation: Buy 109.73/109.50 and take profit 110.25.