In analyzing the 4-hour chart, it is evident that the EUR/USD pair has settled above the crucial 1.1620 level, alongside the 100 and 200 simple moving averages. Moreover, it has surpassed the significant 61.8% Fibonacci retracement level following the downward movement that started from the 1.1768 swing high to the 1.1391 low. This creates a bullish outlook for further gains as buyers target the upcoming strong move.