This currency pair has been consolidating in the area of 109.00 – 110.00 for the last few days and now there is no reason to change the trend. On the one hand, we can expect growth in quotations against the background of an uptrend in the American stock market, inasmuch as this currency pair is historically correlated with the S&P500 index. The dollar liquidity profit leaves bankers no choice but to increase the share of stocks in their investment portfolios.

On the other hand, the same liquidity profit can trigger a sell-off in this currency pair.

Trading recommendation: flat 109.00 – 110.00.