We open Buy positions for two reasons. Firstly, labor market statistics have encouraged traders to buy the dollar, inasmuch as increases in employment and salaries indicate faster economic growth in the United States. It should be noted that representatives of the Fed in late spring pointed out that in the summer we received strong reports on Non-Farm and they did not deceive.

Secondly, strong statistics are pushing the American stock market to new historical maximums, which is also favorable for this currency pair, insofar as it is historically correlated with stock markets.

Trading recommendation: Buy 110.08/109.80 and take profit 110.50.