EUR/USD 4H Chart Analysis

The EUR/USD pair shows intriguing developments in the 4-hour chart, hinting at potential upward movement. Starting with the RSI, it has recently hit massively oversold levels, indicating a likely reversal as the market may deem the Euro undervalued against the Dollar.

Simultaneously, both the MACD and its signal line are trending upward in unison. This parallel rise is typically a bullish sign, suggesting growing momentum in buying activity.

Speaking of momentum, this indicator has rebounded notably from its lowest point in four weeks, now ascending towards the zero line. This recovery suggests an increase in the rate at which the price is changing, potentially signaling a stronger move up.

Lastly, there's an untouched pivot point at 1.07165, serving as a magnetic target for price action. If current indicators continue to suggest a bullish bias, we might see the pair challenge and possibly reach this level soon.

Keep an eye on these indicators for confirmation of continued upward movement. As always, monitor market news and other economic indicators for shifts that might affect this analysis.

Trade closed: target reached:

target reached on April 25th