Buy on rebound from 1.1108 level with 1.1244 target. Stop loss = 1.1058.
Reason for the trading strategy
The US labor market data for January were ambiguous. Despite the low growth in the number of jobs outside the US agricultural sector, the unemployment rate declined, and the average hourly wages increased. The uncertainty about the timing of a further tightening of the US interest rate policy is maintained. At the end of this week, the data on the US retail sales will give important information about the consumer spending of American households.