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EUR/USD, H4 chart
Euro seems to have exhausted its downside potential. It did not fall last week despite news about higher-than-expected inflation in the US, but instead started to rise. And although the gains are still small, the decline has clearly halted.
Perhaps, the reason is the higher-than-expected inflation in Germany, which is setting traders up for another ECB rate hike after the one in March. That makes a further bounce upwards very likely.
Traders could try buying euro with a stop under last week's low.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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