For Traders

Analytical Reviews

Technical analysis

23.02.202311:43 Forex Analysis & Reviews: EUR/USD is renewing its low, but a rise is also possible

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

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.

Back to the list

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.