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

Daily Price Outlook

- EUR/USD must hold above the pivot point at $1.03904 to sustain bullish momentum.

- Resistance levels at $1.04339 and $1.04844 remain key hurdles for further upside potential.

- A break below $1.03428 could expose the pair to further downside, testing the 50-day EMA at $1.03375.

The EUR/USD pair is trading at $1.04117, down 0.12%, as the currency pair navigates a cautious market environment amid evolving macroeconomic conditions. The price remains slightly above the pivot point at $1.03904, which acts as a critical level for near-term directional bias.

A sustained move above this level could bolster bullish sentiment, targeting immediate resistance at $1.04339, with subsequent levels at $1.04844 and $1.05352. However, failure to break above the resistance zones may limit upside momentum, keeping the pair within a consolidation phase.

On the downside, immediate support is seen at $1.03428, followed by key support at $1.02906 and $1.02388. A break below these levels could invite further selling pressure, potentially driving the pair toward lower support zones and increasing bearish sentiment in the market.

The 50-day EMA, currently at $1.03375, is providing a key dynamic support level, reinforcing the significance of maintaining levels above $1.03910 to sustain a bullish outlook.

From a technical perspective, the pair remains in a neutral to slightly bullish trend, with buyers expected to step in above $1.03910, targeting $1.04636 as a near-term profit objective.

However, downside risks persist, with a stop-loss level at $1.03388 to mitigate potential losses. Traders should watch for upcoming economic releases and market sentiment shifts that could influence price action.

EUR/USD - Trade Ideas

Entry Price – Buy Above 1.03910

Take Profit – 1.04636

Stop Loss – 1.03388

Risk to Reward – 1: 1.3

Profit & Loss Per Standard Lot = +$726/ -$522

Profit & Loss Per Mini Lot = +$72/ -$52