Sell on a level breakthrough of 1.0967 with 1.0902 target. Stop loss = 1.1017.
Reason for the trading strategy
The Eurozone's GDP increased by 1.6% (y/y) in Q4 2015, with a forecast of 1.5% (y/y). The statistics, being better than expected, has a stabilizing effect on the euro. However, there are practically no doubts about the extension of the scope of tomorrow's stimulus measures in the Eurozone. The risks of the euro sliding to levels of 1.0902 and 1.0825 remain high.