Eur/Usd – Today’s Outlook
Taking a look at today’s EUR/USD H4 Chart, we can see how price stopped at around the 1.4850, bounced back up, and reacted to the 38.2 Fib line to the pip. Price has now come back down to 1.4880, and it seems as though it will test the 23.6 Fib level again later today.
Stochastics are smoothly pointing upwards and the AC is green, indicating bullishness. The problem is the previous H4 candle has an extremely long upper wick, so I wouldn’t be surprised to see this currency pair be range bound for the next few hours between the current swing low and swing high. (1.4850 and 1.4930)
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