The EURUSD currency pair on the 4 Hours Chart has been in a downtrend since 17 April 2019 when it registered the high price at 1.13238. Subsequently, the price displayed a series of lower tops and lower bottoms. On 24 April 2019, the EURUSD currency pair recorded the low price of 1.11406. Applying Oscillator Analysis on the price chart, one can notice that price is trading below the SMA 60 period Moving Average line, a fact that confirms the downward direction of Euro. 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 in the oversold zone after an increase in sales and excess of net decline. All three technical indicators are in agreement for the downward bias of the financial instrument. Applying the Fibonacci tool on the price chart, three price targets may be calculated. The first price target is estimated at 1.12042 (161.8%). The second price target is seen at 1.11684 (261.8%). The third price target is projected at 1.11105 (423.6%). The first and second targets were reached successfully. The Euro is currently trading below the downtrend line. The presence of the Long Black Body hints for a potential rally to the downside. Of course, supply and demand as well as the crowd sentiment will determine the course of Euro. Though the market is currently following the counter trend direction, this might just be a correction, as long-term trend remains bearish.