On the 4-hour chart for the EUR/USD you can see that the price is hanging just below the 200 EMA. As the price has not broken the 200 EMA strongly, we are fairly optimistic that the price will retrace upwards.
The price also touched a strong support which was a prior resistance level that was tested 4 times at 1.097. This being said, if the price does continue upwards then it will target the previous high at the 1.137 mark.
However, with the increasing pressure on the euro and the growing optimism around the greenback, a move further south is possible. If the price decides to break the strong support then it will target roughly the 1.08 mark, which is a prior swing low. We currently have a long position set up with a take profit set at 1.138 and the stop loss at 1.096.