The EURUSD currency pair on the 4 Hours Chart has been in a downtrend since 31 October 2019 when it registered the high price at 1.11756. Subsequently, the price displayed a series of lower tops and lower bottoms. On 10 November 2019, the EURUSD currency pair recorded the low price of 1.10165. When applying Oscillator Analysis to the price chart, one can see that price is trading below the SMA 60 period Moving Average line, a fact which confirms the Euro's downward direction. Furthermore, the MACD (Moving Average/Convergence Divergence) Oscillator is recording values below the zero line which hints to the bearish bias of financial instrument. Additionally, the RSI (Relative Strength Index) Oscillator registers values below the fifty line which indicates negative sentiment. All three technical indicators are in agreement with regards to the downward bias of the financial instrument. Three price targets may be calculated upon applying the Fibonacci tool to the price chart. The first price target is estimated at 1.10455 (161.8%). The second price target is seen at 1.10162 (261.8%). The third price target is projected at 1.09688 (423.6%). The first target was reached successfully. The Euro is currently trading above the downtrend line, which signals the weakness of the bears to maintain the downward bias. The presence of the Bullish Engulfing pattern hints at a potential rally to the upside. Of course, supply and demand as well as the crowd sentiment will determine the course of Euro.