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

Daily Price Outlook

- Bearish Momentum: EUR/USD remains bearish below the 50 EMA at $1.04681 and the Pivot Point at $1.03805.

- Support Levels: Key supports at $1.03556, $1.03326, and $1.03099.

- Resistance Levels: Immediate resistance at $1.04063, followed by $1.04223 and $1.04476.

EUR/USD is trading at $1.03842, down 0.02%, reflecting a cautious market sentiment as it hovers slightly above the Pivot Point at $1.03805.

The currency pair faces immediate resistance at $1.04063, followed by stronger barriers at $1.04223 and $1.04476. These resistance levels coincide with the 50-day Exponential Moving Average (EMA) at $1.04681, suggesting continued selling pressure unless the pair breaks above this level.

On the downside, immediate support is observed at $1.03556, with further cushions at $1.03326 and $1.03099.

A break below $1.03556 could accelerate the bearish trend, pushing EUR/USD towards the lower support zones.

Conversely, a sustained move above $1.03805 could challenge the $1.04063 resistance level, potentially shifting momentum towards the bulls.

The technical setup indicates a bearish bias as long as EUR/USD trades below the 50 EMA and the Pivot Point. The 4-hour chart shows a descending trendline, reinforcing selling interest. If the price fails to reclaim the $1.03805 level, it is likely to face continued downward pressure.

For now, the recommended strategy is to Buy Above $1.03810, with a Take Profit at $1.04223 and a Stop Loss at $1.03553.

Traders should watch for price action around $1.03805, as a break above this level could invalidate the bearish outlook and trigger a short-term recovery.

EUR/USD - Trade Ideas

Entry Price – Buy Above 1.03810

Take Profit – 1.04223

Stop Loss – 1.03553

Risk to Reward – 1: 1.3

Profit & Loss Per Standard Lot = +$426/ -$257

Profit & Loss Per Mini Lot = +$42/ -$25