The world’s leading stock exchanges opened the week on a high note, which is positive for this currency pair, inasmuch as it is historically correlated with stock markets. Investors are not at all embarrassed by tomorrow’s meeting of the US Federal Reserve, where the monetary authorities are announcing a reduction in stimulus measures.

The United States gladdened the market with positive manufacturing PM statistics from ISM, which is also favorable for the pair. The PMI has firmly consolidated above its average over the past year, indicating accelerating growth in the manufacturing sector of the economy. The industrial employment index reached a three-month maximum, which also confirms the positive trend.

Trading recommendation: buy 113.59/113.35 and take profit 114.11.