Sell on a level breakthrough of 1.1358 with 1.1290 target. Stop loss = 1.1410.
Reason for the trading strategy
If the Eurozone's inflation data for September turns out worse than expected (i.e. below -0.1% (y/y)), the likelihood of an expansion of the ECB's asset purchases program will increase. Yesterday, Ewald Nowotny, the member of the ECB Governing Council, said that the performance of both the total and the core inflation in the Eurozone was clearly not up to the level targeted by the regulator (2% (y/y)).