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

Daily Price Outlook

- Resistance Levels: Immediate resistance at $1.03720, followed by $1.04338 and $1.05131.

- Support Levels: Critical support lies at $1.02406, with deeper levels at $1.01867 and $1.01288.

- 50-Day EMA Barrier: The 50-day EMA at $1.02938 reinforces short-term bearish momentum, limiting upward attempts.

The EUR/USD pair is trading at $1.02866, down 0.09%, as it struggles to recover above the pivot point at $1.03196. The pair remains under pressure amid subdued market sentiment and a stronger U.S. Dollar, signaling potential downside risks.

Immediate resistance is located at $1.03720, with additional barriers at $1.04338 and $1.05131. On the downside, key support is seen at $1.02406, followed by deeper levels at $1.01867 and $1.01288.

The 50-day EMA at $1.02938 aligns closely with the current price action, providing a short-term barrier to any bullish attempts.

The inability to sustain above the pivot point suggests cautious sentiment, while a break below the immediate support at $1.02406 could intensify selling pressure, targeting lower levels.

From a technical perspective, a sustained move above $1.03196 is required to signal a potential bullish reversal, with an upside target of $1.03720.

Conversely, failure to hold above the pivot may lead to a retest of $1.02406, with further declines toward $1.01867 likely if bearish momentum persists.

Market participants should closely monitor the $1.03196 pivot point, as it serves as a crucial decision level for directional movement. While the broader trend remains bearish, a break above resistance could provide relief for the euro.

EUR/USD - Trade Ideas

Entry Price – Sell Below 1.03197

Take Profit – 1.02402

Stop Loss – 1.03606

Risk to Reward – 1: 1.9

Profit & Loss Per Standard Lot = +$795/ -$409

Profit & Loss Per Mini Lot = +$79/ -$40