4H Market Outlook – EUR/USD
After analysing the 4-hour chart, it’s clear that EUR/USD is riding a strong uptrend — and let’s be honest, we’re not sure how many accounts this rally has humbled so far! 😅
Currently, price is trading above a well-respected ascending trendline, which has provided solid support multiple times in recent sessions, further confirming bullish strength.
Heading into next week, we expect a shallow retracement toward the 38.20% – 50.00% Fibonacci zone, which would be a healthy pause before potentially completing one of several bullish continuation patterns:
• Bullish Flag
• Falling Broadening Wedge
• Falling Wedge
Once the pattern matures and price breaks out, don’t be surprised if EUR/USD says “hi” to our next upside target with confidence.
On the flip side, if price breaks below the ascending trendline, this could trigger a deeper pullback — first toward the 78.60% retracement, and if that fails to hold, we may see further downside toward 0% and even the 127.20% extension level.
⚠️ Always respect your risk management rules. They’re your trading seatbelt — protecting your capital and preserving your profits.
Happy Trading,
SpicyPips
After analysing the 4-hour chart, it’s clear that EUR/USD is riding a strong uptrend — and let’s be honest, we’re not sure how many accounts this rally has humbled so far! 😅
Currently, price is trading above a well-respected ascending trendline, which has provided solid support multiple times in recent sessions, further confirming bullish strength.
Heading into next week, we expect a shallow retracement toward the 38.20% – 50.00% Fibonacci zone, which would be a healthy pause before potentially completing one of several bullish continuation patterns:
• Bullish Flag
• Falling Broadening Wedge
• Falling Wedge
Once the pattern matures and price breaks out, don’t be surprised if EUR/USD says “hi” to our next upside target with confidence.
On the flip side, if price breaks below the ascending trendline, this could trigger a deeper pullback — first toward the 78.60% retracement, and if that fails to hold, we may see further downside toward 0% and even the 127.20% extension level.
⚠️ Always respect your risk management rules. They’re your trading seatbelt — protecting your capital and preserving your profits.
Happy Trading,
SpicyPips
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.