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

Daily Price Outlook

- Oversold Conditions: RSI at 30 suggests potential for a rebound but requires confirmation of momentum.

- Resistance Levels: Immediate resistance at 1.03399; further hurdles at 1.03708 and 1.04122.

- Support Zones: Key support at 1.01664, with additional levels at 1.01308, signaling bearish risks.

EUR/USD is trading at 1.0281, down 0.21% as bearish sentiment prevails, with the pair slipping below its pivot point at 1.02977.Immediate resistance is positioned at 1.03399, followed by higher levels at 1.03708 and 1.04122.

On the downside, support is found at 1.01664 and extends to 1.01308, underscoring critical zones for potential rebounds.

The RSI is at 30, signaling oversold conditions, which could attract short-term buyers, though caution is advised as bearish momentum remains dominant.

The pair is trading well below its 50-day EMA at 1.03862, reinforcing the bearish trend and suggesting a challenge to sustain any recovery above key resistance levels.

For a bullish reversal, EUR/USD needs to reclaim the pivot point at 1.02977, which could target the first resistance at 1.03399.

However, failure to hold support at 1.01664 may trigger further declines, exposing the pair to lower levels at 1.01308 or below.

Market participants should monitor price action near the pivot and RSI for signs of a rebound or continued downward pressure.

The current technical setup favors a cautious approach as EUR/USD hovers near critical thresholds.

EUR/USD - Trade Ideas

Entry Price – Buy Above 1.02353

Take Profit – 1.02968

Stop Loss – 1.01998

Risk to Reward – 1: 1.7

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

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