Buy on a level breakthrough of 1.0984 with 1.1058 target. Stop loss = 1.0934.
Reason for the trading strategy
Today's decline in oil prices and Asian stock indexes provokes investors to go into defensive assets - gold, the yen, the euro. Investors do not trust the official macroeconomic statistics from China, waiting for a further decline in business activity in the region. These expectations are realized in the form of falling stock market and volume of direct foreign investment in China. In December 2015, the growth rate of the latter figure decreased from 7.9% (y/y) to 6.4% (y/y).