Sell on a level breakthrough of 1.1073 with 1.1023 target. Stop loss = 1.1123.
Reason for the trading strategy
Yesterday the dollar came under pressure after the publication of the last US Federal Reserve meeting minutes. They imply that the Fed members did not come to a decision to raise interest rates this summer because of the uncertain prospects of the US economy and referendum in the UK. Meanwhile, the members of the US Federal Reserve noted some acceleration of consumer spending growth in the US in Q2 2016 versus Q1 2016. Today the downtrend in the EURUSD pair continued after the publication of industrial production in Germany, which fell by 1.3% (m/m) in May.