EURUSD H4 AnalysisFirst up is a basic support setup on EUR/USD’s 4-hour chart. See, the pair is chillin’ like a villain at the 1.1000 major psychological handle that’s been limiting the bears’ momentum since early October.
Is EUR/USD in for a bounce? Stochastic certainly suggests so with its oversold signal.
Buying at the first signs of bullish momentum would get you a nice reward-to-risk ratio especially if the euro bounces to previous areas of interest like 1.1100 or 1.1200.
If you’re still firmly on euro bear camp, however, then you might want to wait for a clean break below 1.1000 before you execute them short trades. 1.0950 and 1.0900 are low key support areas to watch if you’re shorting the euro against the dollar.
