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

Daily Price Outlook

- Bearish Momentum: Prices remain below the $1.04794 pivot and the 50 EMA at $1.05172, reinforcing the bearish trend.

- Support Levels in Focus: A break below $1.04270 could extend declines toward $1.03987 and $1.03667.

- RSI Signals Weakness: RSI at 36 suggests bearish sentiment but indicates nearing oversold conditions.

EUR/USD is trading at $1.04554, down 0.11%, reflecting a bearish tone on the 4-hour chart. Prices hover below the pivot point at $1.04794, signaling sustained selling pressure.

Immediate resistance is at $1.05218, followed by $1.05622 and $1.05973. On the downside, support levels are positioned at $1.04270, with further barriers at $1.03987 and $1.03667, providing targets for bearish continuation.

The 50 EMA at $1.05172 confirms short-term downward momentum, with prices consistently trading below this level.

The RSI at 36 indicates bearish sentiment, nearing oversold territory, which may limit the scope for further immediate declines.

A Sell Limit entry at $1.04791 targets $1.04385, with a Stop Loss at $1.05104 to manage risk. A breach of $1.04270 would open the path to $1.03987, reinforcing the bearish trend.

Conversely, a recovery above $1.04794 could shift the tone, with resistance at $1.05218 acting as a key test for buyers.

EUR/USD - Trade Ideas

Entry Price – Sell Limit 1.04791

Take Profit – 1.04385

Stop Loss – 1.05104

Risk to Reward – 1: 1.3

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

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