EURUSD (1.2026): The EURUSD closed with some losses on Friday and in the process, price action formed an inside bar near the current highs above 1.20. The break out from this inside bar could potentially spell the next stage of gains or declines in the common currency. On the 4-hour chart, the EURUSD is seen falling away from the lower median line after price broke to the downside. With the exception of some consolidation taking place here, the common currency could be seen extending the declines towards 1.190 at the minimum in the near term. However, this scenario could change on a bullish close above 1.2090. This would keep the upside momentum intact although, in the longer term, the possibility of a correction to the rally remains high.
