EUR/USD remains bearish, closing with a pin bar in the daily TF yesterday.
The primary reason is the increase in dollar demand caused by the persistently growing US inflation.
Sell-offs are consistent during US sessions, while buy stops continue to accumulate below 1.04700.
In this regard, it is best to avoid long positions, especially with stop loss beyond 1.04700. Instead, take short positions with targets at 1.04700 and below. The breakdown may be volatile due to the two-week accumulation of buy stops below this level.
This trading idea is based on the Price Action and Stop Hunting strategies.
Good luck and have a nice day!
