EUR/USD: 4-hour

EUR/USD 4-hour Chart

EUR/USD has been trading lower for the past few days, but be careful, all you euro bears out there! In the 4-hour time frame, a rising trend line has become apparent with the pair making higher lows. Stochastic indicates that the pair is already oversold but don't get too excited buying the pair just yet! It looks like it still has more room to move lower and test support at the trend line. Keep tabs on the 1.2300 handle. A strong bearish close below the level could hint that EUR/USD would soon drop to 1.2150. Meanwhile, a bullish candle on the trend line could mean that the pair is on its way back up to 1.2400!