Sell on a level breakthrough of 1.0900 with 1.0806 target. Stop loss = 1.0950.
Reason for the trading strategy
The current decline in the EUR/USD pair is probably due to the expectations of the future expansion of the asset purchases program in the euro zone and interest rate rises in the United States. At the same time, macroeconomic statistics suggests otherwise. In October, the euro zone's consumer price index fell from 0.1% (y/y) to 0% (y/y). In September, the unemployment rate in Australia declined from 10.9% to 10.8%. Today, it is worth paying attention to the business activity index in the euro zone and the US services sector, as well as employment in the private sector and the trade balance in the US.