Sell on a level breakthrough of 1.1120 with 1.1060 target. Stop loss = 1.1170.
Reason for the trading strategy
The euro zone ZEW business sentiment index fell to 22.7 p. 13.6 p. in February, but was higher than the forecast of 10.3 p. We believe the adjustment of the euro from the support the level of $1.1120 is temporary. If the January data on industrial production in the US is at the level of expectations (if the figure grows by 0.3% (m/m)), the EURUSD pair will test the 1.1060 level.