I am analyzing the EUR/USD pair on the four-hour chart. The pair has been declining since the release of inflation data, moving down from the opposite boundaries of the grey range. Initially, I assumed that the pair would continue trading within this grey range, but inflation turned out to be higher than expected. However, it was not significantly higher, and the increase was not substantial enough for the pair to drop too far down. The support at 1.06726 was broken. The pair dipped slightly below, with buying volume increasing. I speculated that the pair would not return to this grey range. It is evident that the pair is continuing to rise, with previous highs being updated. I anticipate that it will move towards the opposite boundaries of the range, specifically the level of 1.08885.
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