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

Daily Price Outlook

- Bearish Bias Prevails: EUR/USD hovers below the pivot point at $1.05392, with support at $1.04978.

- RSI Reflects Weak Momentum: RSI at 42 underscores limited buying interest and a risk of further declines.

- Sell Strategy: Enter short positions below $1.05384, targeting $1.04978, with a stop-loss at $1.05697.

The EUR/USD pair is trading at $1.05270, holding steady despite subdued momentum on the 4-hour chart. The pivot point at $1.05392 serves as a key level for determining near-term direction.

Immediate resistance is positioned at $1.05685, with further barriers at $1.05973 and $1.06321. On the downside, immediate support lies at $1.04978, with subsequent levels at $1.04602 and $1.04270.

Technical indicators highlight a cautious sentiment. The RSI is at 42, signaling weak momentum, while the 50 EMA at $1.05537 suggests a bearish bias as prices remain below this key moving average.

A break below $1.05384 could intensify selling pressure, exposing the pair to potential declines toward $1.04978. Conversely, a recovery above $1.05685 would shift sentiment, opening the path to test $1.05973.

For traders, the recommended strategy is to enter short positions below $1.05384, targeting $1.04978, with a stop-loss set at $1.05697. This setup aligns with the prevailing bearish trend while managing downside risk effectively.

EUR/USD - Trade Ideas

Entry Price – Sell Below 1.05384

Take Profit – 1.04978

Stop Loss – 1.05697

Risk to Reward – 1: 1.3

Profit & Loss Per Standard Lot = +$406/ -$313

Profit & Loss Per Mini Lot = +$40/ -$31