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

Daily Price Outlook

- Bearish Bias: Trading below the 50-day EMA at $1.0402 confirms downside risks.

- Critical Resistance: A breakout above $1.05029 is necessary to shift sentiment.

- Support Focus: A break below $1.04424 could target $1.03626 and $1.03033.

The EUR/USD pair is trading at $1.04100, down 0.10% in the last session, as the pair remains under pressure near its pivot point at $1.04430.

The 4-hour chart reflects a bearish inclination, with the pair trading below the 50-day EMA at $1.0402. The Relative Strength Index (RSI) at 52 indicates a neutral stance, leaning slightly bearish.

Immediate resistance is located at $1.05029, with further resistance levels at $1.05453 and $1.05972. To confirm a bullish recovery, the pair must break and sustain above these levels.

However, the current bias suggests more downside risks. Immediate support lies at $1.03430, with subsequent levels at $1.03033 and $1.02722.

A break below $1.04424 could signal additional selling pressure, targeting $1.03626 in the short term. If bearish momentum persists, the pair may test deeper support levels at $1.03033 or even $1.02722.

Conversely, a recovery above $1.05029 would neutralize the bearish bias, paving the way for a potential upside toward $1.05453.

EUR/USD - Trade Ideas

Entry Price – Sell Below 1.04424

Take Profit – 1.03626

Stop Loss – 1.04852

Risk to Reward – 1: 1.8

Profit & Loss Per Standard Lot = +$798/ -$428

Profit & Loss Per Mini Lot = +$79/ -$42