Sell on a level breakthrough of 126.70 with 126.15 target. Stop loss = 127.20.
Reason for the trading strategy
The quantitative easing program conducted by the ECB in February allowed to achieve maximum growth rates of lending in the Eurozone in five years. The volume of loans provided to non-financial sector increased by 0.9% (y/y), while lending to individuals increased by 1.6% (y/y). The expansion of this program to 80 billion euro in April could put pressure on the euro cross rates, but will contribute to a growth of inflation in the Eurozone.