Buy on a level breakthrough of 1.1239 with 1.1295 target. Stop loss = 1.1190.
Reason for the trading strategy
Yesterday's publication of statistics on inflation and unemployment in the euro zone allowed the euro to briefly get closer to the resistance level of 1.1239. The February rise in oil prices contributed to the acceleration of annual inflation in the euro zone from -0.6% to -0.3%. The January decline in the unemployment rate from 11.3% to 11.2% will support the future GDP growth rate in the euro zone. Today's statistics on retail sales in Germany has promoted the growth in demand for the euro once again.