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

Daily Price Outlook

- Bearish Bias: Trading below the 50 EMA ($1.05626) with RSI at 41 reflects bearish momentum.

- Support and Resistance: Immediate resistance at $1.05973; support levels to watch are $1.05071 and $1.04720.

- Trading Strategy: Buy above $1.05325 with a target of $1.05814 and a stop loss at $1.05065 to mitigate downside risk.

EUR/USD is trading at $1.05475, down 0.18%, as bearish momentum tests the pair's resilience above the pivot point of $1.05327. The 50-day EMA at $1.05626 slightly hovers above the price, reflecting a short-term bearish tilt while maintaining a narrow trading range.

Immediate resistance is at $1.05973, with further barriers at $1.06321 and $1.06603, suggesting limited upward movement unless bullish momentum picks up.

On the downside, immediate support is located at $1.05071, followed by stronger levels at $1.04720 and $1.04347, which could attract renewed selling pressure if the pair breaches the $1.05327 pivot.

The RSI at 41 leans toward bearish territory, signaling the potential for further declines before oversold conditions are met.

A break above $1.05973 would reinforce bullish sentiment, targeting $1.06321. Conversely, if the pair dips below $1.05327, it could extend losses toward $1.04720.

Traders should remain cautious, with key macroeconomic data and central bank commentary likely to influence near-term volatility. (edited)

EUR/USD - Trade Ideas

Entry Price – Buy Above 1.05325

Take Profit – 1.05814

Stop Loss – 1.05065

Risk to Reward – 1: 1.8

Profit & Loss Per Standard Lot = +$489/ -$260

Profit & Loss Per Mini Lot = +$48/ -$26