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

Daily Price Outlook

- Resistance Levels: Immediate resistance at $1.03929, with next targets at $1.04582 and $1.05136.

- Support Zones: Immediate support at $1.02579, with additional levels at $1.02109 and $1.01664.

- Momentum Indicators: RSI at 41 signals weak momentum; price below 50-day EMA at $1.03769 reinforces short-term bearish outlook.

EUR/USD is trading at $1.03107, marking a slight increase of 0.03% during the day as the pair consolidates near critical levels. The 4-hour chart indicates a cautious market sentiment, with the price testing immediate support at $1.02579.

This support is crucial to preventing further downside, as a break below this level could expose the pair to deeper retracements toward $1.02109 and $1.01664.

On the upside, the pair faces immediate resistance at $1.03929, followed by $1.04582 and $1.05136. A breakout above $1.03929 could spark bullish momentum, potentially targeting the higher resistance levels.

However, with the price currently below the 50-day EMA at $1.03769, bearish sentiment remains dominant in the near term.

The Relative Strength Index (RSI) stands at 41, reflecting subdued momentum and hinting at potential oversold conditions.

Traders may focus on the pivot point at $1.03453, which acts as a key level for determining the next directional bias.A sustained move below this pivot could solidify the bearish trend, making short positions favorable.

For intraday trading, selling below $1.03461 with a target of $1.02586 appears prudent, while a stop-loss at $1.03944 safeguards against unexpected reversals.

EUR/USD - Trade Ideas

Entry Price – Sell Below 1.03461

Take Profit – 1.02586

Stop Loss – 1.03944

Risk to Reward – 1: 1.8

Profit & Loss Per Standard Lot = +$875/ -$483

Profit & Loss Per Mini Lot = +$87/ -$48