EUR/USD Price Analysis and Trade Forecast: Daily Trading Signal

By LHFX Technical Analysis

Apr 19, 20231 min

The EUR/USD currency pair currently exhibits a selling stance after encountering significant resistance near the 1.098 mark. This resistance level, reinforced by a double-top formation, poses a considerable barrier for the euro today.

On the downside, immediate support for the EUR/USD pair lies around the 1.0930 mark, with a significant decline potentially driving the pair further down to 1.0910 or 1.0880 levels. However, if the EUR/USD surpasses 1.0950, it may aim for resistance levels at 1.0980 or 1.1000.

EURUSD Price Chart - Source: Tradingview

EUR/USD Trade Idea

Entry Price – Sell Below 1.0952

Stop Loss – 1.09830

Take Profit – 1.08831

Risk to Reward – 1 : 1.6

Profit & Loss Per Standard Lot = +$689/ -$310

Profit & Loss Per Micro Lot = +$68/ -$31

Please click here to read and acknowledge our Trade Ideas Disclaimer before using these ideas in your strategies and trading. This document’s information, including forex signals and research, is for general informational and educational purposes only and does not provide specific financial, investment, or trading advice.

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