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

Daily Price Outlook

- Bullish Potential Above Pivot: EUR/USD remains bullish above the $1.04663 pivot, with resistance at $1.05205 and $1.05563 in focus.

- Bearish Risk Below Support: A break below $1.04663 could push prices towards $1.04003 and $1.03565 support levels.

- Strategic Entry Point: Buy above $1.04663, with a take profit at $1.05434 and a stop loss at $1.04149 for effective risk management.

EUR/USD is currently trading at $1.04959, showing minimal movement but maintaining a slightly bearish stance. The pair is hovering just above the key pivot point at $1.04663, which is a crucial support level to watch.

As long as prices stay above this pivot, a bullish reversal is possible, with immediate resistance at $1.05205.

A break above this resistance could propel the pair towards the next targets at $1.05563 and $1.05920, indicating potential upward momentum.

On the downside, if EUR/USD drops below the pivot point at $1.04663, bearish sentiment is likely to strengthen.

The first support to watch is at $1.04003, followed by $1.03565 and $1.03162, marking key retracement zones.

These levels could attract buying interest, but a break below them would confirm a bearish continuation.

The 50-Day Exponential Moving Average (EMA) at $1.04305 is currently acting as dynamic support, reinforcing the potential for a bullish rebound. However, if the price falls below the 50 EMA, it could signal further downside risk.

The technical outlook suggests a strategic entry point to buy above $1.04663, targeting a take profit at $1.05434 and setting a stop loss at $1.04149 to manage risk effectively.

EUR/USD - Trade Ideas

Entry Price – Buy Above 1.04663

Take Profit – 1.05434

Stop Loss – 1.04149

Risk to Reward – 1: 1.5

Profit & Loss Per Standard Lot = +$771/ -$514

Profit & Loss Per Mini Lot = +$77/ -$51