Will EUR/USD Flag Its Way to the Next Level?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
