Amid some stabilization of the American currency, the EUR/USD pair is trading at 1.1192. The euro is trying to return to growth, supported by macroeconomic statistics indicating a slowdown in inflation in leading countries, despite the easing of monetary policy by the European Central Bank (ECB).

The European currency is gaining value in the EUR/USD pair, developing the “bullish” momentum formed the day before, when quotes managed to retreat from the lows of April 10. The instrument is testing 1.1195 for a breakout, while market participants are assessing April inflation statistics from Germany, where the Consumer Price Index added 0.4% monthly and 2.1% annually, while the Harmonized CPI increased by 0.5% and 2.2%, respectively.

The price is in a correction and may grow.

On the daily chart, the upward first entry wave of the highest level 1 of (A) and the correctional second wave 2 of (A) formed, and the third wave 3 of (А) started. Now, the first entry wave of the lowest level i of 3 is developing, within which the wave (iii) of i has formed, and the correctional wave (iv) of i is ending. If the assumption is correct, the EUR/USD pair will grow to the area of 1.1800–1.2255. In this scenario, the critical stop loss level is 1.1050.