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

Daily Price Outlook

- Pivot Level Break: A sustained drop below $1.03423 could accelerate bearish momentum, targeting support at $1.02240.

- EMA Pressure: The 50 EMA at $1.03471 highlights bearish dominance as prices remain below this level.

- Resistance Outlook: Bulls need to clear $1.03423 to challenge resistance at $1.04424 and $1.05222.

EUR/USD is trading at $1.02969, reflecting mild bearish sentiment as it dips below the pivot point at $1.03423.

The pair faces immediate resistance at $1.04424, with further upside barriers at $1.05222 and $1.06035.

On the downside, immediate support lies at $1.02240, followed by deeper levels at $1.01664 and $1.01118.

The 50 EMA at $1.03471 signals bearish momentum as prices hover below this critical moving average. RSI readings remain neutral, indicating limited directional bias for now.

However, a sustained break below $1.03423 could accelerate bearish momentum, driving the pair toward key support levels. Conversely, a recovery above $1.03423 may trigger a bullish reversal, targeting $1.04424.

Market participants are closely monitoring broader economic cues, including U.S. Nonfarm Payrolls data and ECB commentary, which could impact the euro's trajectory.

A decisive move below the $1.03423 pivot point will likely validate bearish sentiment, paving the way for further declines.

On the flip side, a break above $1.03423 could signal a near-term recovery toward $1.04424 and higher levels.

EUR/USD - Trade Ideas

Entry Price – Sell Below 1.03424

Take Profit – 1.02469

Stop Loss – 1.03893

Risk to Reward – 1: 2

Profit & Loss Per Standard Lot = +$955/ -$469

Profit & Loss Per Mini Lot = +$95/ -$46