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

By LHFX Technical Analysis

Jul 24, 20231 min

Daily Price Outlook

EUR/USD remained stagnant in recent sessions, trading within the 1.1105 support and 1.1170 resistance levels. The price must surpass either of these levels for clearer direction in its next targets.

As the price remains indecisive, a break below the support could lead to further declines targeting 1.1055 and 1.1000 levels. Conversely, breaching the resistance is crucial to resume the main bullish trend, aiming for 1.1275 and 1.1418 levels.

Expected trading range for today: 1.1050 (support) to 1.1210 (resistance).

EUR/USD Price Chart – Source: Tradingview

EUR/USD - Trade Idea

Entry Price – Buy Limit 1.11082

Take Profit – 1.12072

Stop Loss – 1.10615

Risk to Reward – 1: 2

Profit & Loss Per Standard Lot = +$990/ -$460

Profit & Loss Per Micro Lot = +$99/ -$46

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.

EUR/USD

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