Buy on a level breakthrough of 1.1252 with 1.1374 target. Stop loss = 1.1200.
Reason for the trading strategy
Yesterday, the US Federal Reserve kept the federal funds rate at 0.25-0.5% per annum as expected. The US Federal Reserve forecasts a lower trajectory of interest rates during 2016-2018. According to the US regulator's forecasts, the mean level of key interest rate will be about 0.9% by the end of 2016, instead of 1.4% as it was expected in December 2015. Thus, instead of 4-rate increases, there will be only 2 (each one by 25 bps).