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

Daily Price Outlook

- EUR/USD remains bearish below the $1.03670 pivot level.

- Immediate resistance at $1.04093; breakout needed for bullish momentum.

- Support at $1.02997; break below could accelerate losses toward $1.02551.

EUR/USD is hovering around $1.03581, showing slight weakness as the U.S. dollar maintains its strength. The pair has slipped below its pivot point at $1.03670, reinforcing a short-term bearish bias.

Persistent concerns over Federal Reserve policy tightening and resilient U.S. economic data have kept pressure on the euro, limiting its upside potential.

On the technical side, the 50-day EMA at $1.03465 is acting as a dynamic support level. Immediate resistance stands at $1.04093, with a breakout above this level potentially opening the door to further gains toward $1.04497 and $1.04922. However, the current trend suggests that buyers remain cautious amid macroeconomic uncertainty.

Downside risks are evident, with $1.02997 serving as the first major support level. A sustained break below this level could accelerate losses toward $1.02551, followed by a deeper decline toward $1.02135.

Given the technical setup, traders may look for sell positions below $1.03674, targeting $1.03007, while maintaining a stop loss at $1.04115.

Looking ahead, market participants will be closely watching U.S. inflation data and any Federal Reserve commentary for signals on future rate policy.

A softer inflation reading could weaken the dollar and support the euro, while persistent inflationary pressures may reinforce the Fed’s hawkish stance, keeping EUR/USD under pressure.

EUR/USD - Trade Ideas

Entry Price – Sell Below 1.03674

Take Profit – 1.03007

Stop Loss – 1.04115

Risk to Reward – 1:1.5

Profit & Loss Per Standard Lot = +$667/ -$441

Profit & Loss Per Mini Lot = +$66/ -$44