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

Daily Price Outlook

- Bearish Bias: EUR/USD trades below $1.03879, signaling downward pressure.

- Key Support Levels: Immediate support at $1.03220; a break below could target $1.02721.

- Resistance Zones: Watch for resistance at $1.04339 and $1.04678, capping potential rallies.

The EUR/USD pair is trading at $1.03761, down 0.02%, reflecting a modest bearish bias as it hovers below the pivot point of $1.03879.

This level acts as a critical threshold, where sustained weakness could trigger further downside momentum. Immediate resistance lies at $1.04339, followed by $1.04678 and $1.05190. A break above these levels could signal a reversal of the current bearish trend.

On the downside, the pair finds immediate support at $1.03220. A decisive move below this could open the door for further declines toward $1.02721 and potentially $1.02129, reinforcing the bearish outlook.

The 50-EMA at $1.03512 adds to the downward pressure, acting as dynamic resistance and confirming the prevailing trend.

Technical indicators suggest limited bullish momentum, with sellers maintaining control unless the euro can reclaim levels above $1.03879.

The formation of lower highs and lower lows indicates persistent bearish sentiment, with any short-term rallies likely facing resistance near key levels.

Traders are advised to watch for price action around the pivot point. A sustained break below $1.03866 could provide a favorable entry for short positions, with targets near $1.03220 and stop-loss orders above $1.04239 to manage risk effectively.

EUR/USD - Trade Ideas

Entry Price – Sell Below 1.03866

Take Profit – 1.03220

Stop Loss – 1.04239

Risk to Reward – 1:1.3

Profit & Loss Per Standard Lot = +$646/ -$373

Profit & Loss Per Mini Lot = +$64/ -$373