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

Daily Price Outlook

- EUR/USD trades above $1.04208 pivot; holding this level supports further upside.

- Immediate resistance at $1.04667; a breakout targets $1.04990 next.

- 50-day EMA at $1.04500 acts as a key hurdle; failure to clear it may trigger consolidation

The EUR/USD pair is showing modest gains, trading at $1.04421, up 0.12%, as it attempts to build momentum above key support levels. The price is hovering near the pivot point at $1.04208, signaling potential upside if buyers maintain control.

Technical indicators suggest that short-term bullish sentiment prevails, but the 50-day EMA at $1.04500 remains a key resistance level that must be breached for further gains.

A decisive move above $1.04667 could push EUR/USD toward the next resistance at $1.04990, with an extended rally targeting $1.05334.

However, failure to sustain above the pivot may trigger downside pressure, leading to immediate support at $1.03971, followed by deeper retracement toward $1.03721 and $1.03413.

The broader outlook depends on macroeconomic factors, including U.S. economic data, Federal Reserve policy signals, and European Central Bank rhetoric. If risk sentiment remains positive and the dollar weakens, EUR/USD could attempt a bullish breakout.

Given current price action, a buy position above $1.04208, with a target at $1.04674 and a stop-loss at $1.04015, aligns with the prevailing trend.

EUR/USD - Trade Ideas

Entry Price – Buy Above 1.04208

Take Profit – 1.04674

Stop Loss – 1.04015

Risk to Reward – 1: 2

Profit & Loss Per Standard Lot = +$466/ -$193

Profit & Loss Per Mini Lot = +$46/ -$19