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

Daily Price Outlook

- Bearish Bias: EUR/USD faces resistance at $1.03187, aligning with the descending trendline.

- Support Levels: Key supports are $1.02392 and $1.01867, critical for gauging further declines.

- Risk-Reward Profile: Favorable sell setup with a 1:1.6 ratio, targeting $795 per standard lot profit.

EUR/USD is trading at $1.03006, up 0.07%, as the pair consolidates below the critical pivot point at $1.03187. This level marks a key threshold for market direction.

The 50-day EMA at $1.03032 reinforces near-term resistance, aligning with a descending trendline. Immediate resistance stands at $1.03187, with further levels at $1.03683 and $1.04338. A failure to breach these levels could invite selling pressure.

On the downside, immediate support lies at $1.02392, followed by $1.01867 and $1.01288. A break below $1.02392 could open the door for further declines toward the $1.01867 level, intensifying bearish momentum.

The pair is currently trading within a downtrend, with lower highs and lows indicating continued bearish sentiment. The risk-to-reward setup favors selling at $1.03187, targeting $1.02392, with a stop loss at $1.03683.

This scenario presents a potential profit of $795 per standard lot against a risk of $496. The alignment of technical resistance levels with a bearish trendline further validates the downside bias.

EUR/USD - Trade Ideas

Entry Price – Sell Above 1.03187

Take Profit – 1.02392

Stop Loss – 1.03683

Risk to Reward – 1: 1.6

Profit & Loss Per Standard Lot = +$795/ -$496

Profit & Loss Per Mini Lot = +$79/ -$49