A bullish rally in the US stock market will have a beneficial influence on the quotes of this currency pair. Today the US Federal Reserve will print $12.4 billion as part of operations with treasury bonds and will use them to buy short-term debt securities.

Historically, there was a high demand for shares on the NYSE on such days. Against this background, I am waiting for new records for the S&P500 and DJI30 indices. The uptrend in the American stock market is very strong now and I see no reason to change this trend.

Trading recommendation: Buy 110.25/110.00 and take profit 110.75.