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

Daily Price Outlook

- Bullish Above $1.04780: Holding above the pivot targets $1.05290 and $1.05673, signaling continued upward momentum.

- Bearish Below $1.04780: A breakdown could see declines towards $1.04505 and $1.04075, signaling a potential bearish reversal.

- Technical Setup: 50 EMA at $1.04709 acts as dynamic support, reinforcing short-term bullish sentiment.

EUR/USD is trading at $1.04972, down 0.01%, reflecting cautious sentiment as it hovers just above the pivot point at $1.04780. The pair is trading above the 50 EMA at $1.04709, signaling short-term bullish momentum.

If the price holds above this pivot, the next target is immediate resistance at $1.05290. A break above this level could push prices towards $1.05673, with a more ambitious move towards $1.06076 if buying pressure continues.

On the downside, if EUR/USD breaks below the pivot at $1.04780, it would shift sentiment to bearish, targeting immediate support at $1.04505.

A further decline could see the pair testing $1.04075, with a deeper drop towards $1.03556 if selling intensifies. The 50 EMA at $1.04709 acts as dynamic support, and a break below this level would confirm a bearish reversal.

The technical outlook suggests a cautious buy above the pivot at $1.04785, targeting $1.05475 with a stop loss at $1.04402.

This setup aligns with the short-term bullish bias while maintaining a favorable risk-reward ratio. Traders should watch for volume confirmation and price action around the $1.05290 resistance to validate the bullish momentum.

Conversely, a break below $1.04780 would invalidate the bullish setup and shift sentiment to bearish, likely driving prices towards $1.04505 and beyond.

EUR/USD - Trade Ideas

Entry Price – Buy Above 1.04785

Take Profit – 1.05475

Stop Loss – 1.04402

Risk to Reward – 1: 1.8

Profit & Loss Per Standard Lot = +$690/ -$383

Profit & Loss Per Mini Lot = +$69/ -$38