Buy on a level breakthrough of 1.1238 with 1.1300 target. Stop loss = 1.1188.
Reason for the trading strategy
According to the European Commission forecasts, the Eurozone's GDP will amount to 1.7% rather than 1.8% in 2016; the unemployment rate will amount to 10.5% rather than 10.6%; and the inflation will be 0.5% rather than 1%. In addition, low oil prices, interest rates and weak euro support the economic growth. The yield on 10-year German bonds has increased by 3 bps for the last day, and the yield on similar American bonds decreased by 1 bps, which has supported the EURUSD pair.