Sell on a level breakthrough of 1.1120 with 1.1060 target. Stop loss = 1.1170.
Reason for the trading strategy
The US Federal Reserve meeting minutes for January indicated the regulator's concern for the national economy due to a deceleration in the growth of China and the emerging markets. These factors are likely to lead to a slower increase in the US key interest rate. It should be noted that in January, the US industrial production grew by 0.9% (m/m) with a forecast of 0.4% (m/m), while the producer price index grew by 0.1% (m/m) with an expected decline by 0.2% (m/m).