Daily Price Outlook

- Resistance Levels: Immediate resistance at $1.03826; next targets at $1.04236 and $1.04581.

- Support Zones: Key support at $1.03100, with deeper levels at $1.02750 and $1.02355 offering safety.

- Momentum Indicators: RSI at 33 suggests oversold conditions; price remains below the 50 EMA at $1.04066, maintaining a bearish short-term outlook.

The EUR/USD pair is trading at $1.03549, down 0.49% as bearish sentiment dominates the short-term market outlook. On the 4-hour chart, the pivot point at $1.03441 is critical, acting as a key threshold for near-term momentum.

Immediate resistance is observed at $1.03826, with higher levels at $1.04236 and $1.04581. Conversely, support is positioned at $1.03100, with further protection at $1.02750 and $1.02355, offering potential stabilization in case of extended selling pressure.

Technical indicators highlight bearish conditions, with the RSI at 33, signaling an oversold market ripe for a potential corrective bounce. However, the pair is trading below the 50 EMA at $1.04066, reinforcing a bearish bias in the short term.

A break below the pivot point of $1.03441 could accelerate selling, targeting the $1.03100 support level. On the upside, reclaiming $1.03826 resistance may encourage buyers, potentially driving the price toward $1.04236.

Market participants should closely monitor the $1.03441 pivot point, as sustained trading above it could signal a reversal of the bearish trend.

EUR/USD Price Chart - Source: Tradingview
EUR/USD Price Chart - Source: Tradingview

EUR/USD - Trade Ideas

Entry Price – Buy Above 1.03440

Take Profit – 1.04055

Stop Loss – 1.03085

Risk to Reward – 1: 1.7

Profit & Loss Per Standard Lot = +$615/ -$355

Profit & Loss Per Mini Lot = +$61/ -$35

EUR/USD

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