Buy on a level breakthrough of 1.1364 with 1.1424 target. Stop loss = 1.1314.
Reason for the trading strategy
In February, Germany's retail sales decreased by 0.4% (m/m), with a forecast of a 0.4% (m/m) growth. However, the annualized rate increased by 5.4% against the forecast of 2.2%. In addition, in March, Germany's inflation rate rose by 0.8% (m/m) with a forecast of 0.6% (m/m) (the ECB stimulus measures contribute to a growth in inflation). After an adjustment, the EURUSD pair is likely to retest the resistance level of 1.1364.