EURUSD (1.1568): The EURUSD currency pair was seen extending the declines on Wednesday following the bearish engulfing candlestick pattern formed the day before. Price action was seen falling sharply on the day to test the support level at 1.1540. On the 4-hour chart, the Stochastics oscillator has been posting a hidden bullish divergence with a lower low while price action as formed a higher low. This potentially indicates a move to the upside. Price action will need to clear the support area of 1.1610 1.1540 region in order to confirm the upside.
