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

Daily Price Outlook

- Key Resistance: 1.04927 – Breakout could target 1.05326.

- Key Support: 1.03916 – A break below may accelerate declines.

- Outlook: Bullish above 1.04371; target set at 1.04939.

The EUR/USD pair is trading at 1.04560, down 0.01%, as the euro faces renewed pressure amid mixed macroeconomic signals. The pair continues to consolidate near its pivot point of 1.04369, suggesting a period of indecision for traders.

Technically, the pair remains above the 50-day EMA, currently at 1.03703, indicating underlying bullish potential. Immediate resistance is observed at 1.04927, with further targets at 1.05326 and 1.05696 if upward momentum strengthens.

A clear break above 1.04927 could attract fresh buying interest and shift the short-term outlook to bullish.

On the downside, immediate support lies at 1.03916, followed by 1.03452. A drop below these levels could expose the pair to further losses, with the next key support at 1.02963. The Relative Strength Index (RSI) remains neutral, hinting at possible volatility if the pair approaches the 1.04369 pivot.

Fundamentally, the euro remains vulnerable to external economic factors, including the Federal Reserve's cautious stance on rate adjustments and ongoing geopolitical uncertainties.

The latest PPI figures in the U.S. came in hotter than expected, reinforcing the Fed’s hawkish narrative and giving the dollar a slight edge. Meanwhile, investors are closely monitoring European inflation data due later this week, which could provide further direction.

EUR/USD - Trade Ideas

Entry Price – Buy Above 1.04371

Take Profit – 1.04939

Stop Loss – 1.03990

Risk to Reward – 1:1.49

Profit & Loss Per Standard Lot = +$568/ -$381

Profit & Loss Per Mini Lot = +$56/ -$38