Sell on a level breakthrough of 1.1244 with 1.1161 target. Stop loss = 1.1300.
Reason for the trading strategy
Tonight, Janet Yellen's expectedly soft rhetoric will put pressure on the euro, as a funding currency. Low inflation and a slow growth in the number of jobs outside the US agricultural sector in January will restrain the aggressive intentions of the Federal Reserve, which previously expected 4 increases, by 25 bps each, in the US key interest rate in 2016.