EURUSD has been on a downtrend mood since we had the announcement from the Fed about the interest rate hike. The recent US reports on the increase of inflation and retail sales data seem to support the mood. Based on the 4H chart, we can see a trendline which has been tested. Furthermore, the movement of the price is also now below the Moving Average 100.

As an aggressive trader, I would start the trade now with a drawdown of 2-4% above the trendline.

Thank you.