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EUR/USD, four-hour (H4) timeframe.
Although euro updated the weekly low yesterday, there was no strong movement downwards, so there was no hint of a reversal. Nevertheless, the lows are being tested again; however, unlike the previous days, buying at these levels, albeit profitable, is now risky.
The best thing to do is to place a buy order, aiming to break up the buy stop at 1.0630. Then, set stop-loss at 1.0560.
In case of a decline, revise the entry point to downwards.
In case of a reversal, pull the stop-loss order under the daily low.
One of the reasons for a price decline is inflation in Germany, which has shown a repeat of the winter highs at 9.4%. Unlike in the US, inflation in the region has not fallen so far.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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