EUR/USD Price Analysis and Trade Forecast: Daily Trading Signal
Daily Price Outlook
- EUR/USD remains bullish above $1.03963, with key resistance at $1.04518.
- 50-day EMA at $1.04552 is a key hurdle for further upside momentum.
- Buy entry above $1.03958, target $1.04523, stop-loss at $1.03575.
The EUR/USD pair is trading at $1.04126, showing minor losses as the dollar holds firm amid economic uncertainty. The pair remains below the pivot point at $1.03963, signaling a neutral to slightly bullish bias in the short term.
Immediate resistance is seen at $1.04518, followed by $1.04837 and $1.05279. A break above $1.04518 could strengthen bullish momentum, with traders eyeing the 50-day EMA at $1.04552 as a key level for further gains. However, failure to clear this resistance may trigger renewed selling pressure.
On the downside, immediate support is at $1.03451, with stronger levels at $1.03163 and $1.02824. If the pair falls below $1.03451, sellers could push the price lower, testing the $1.03163 level, which aligns with previous market structure.
Technically, the 50-day EMA at $1.04552 remains a critical barrier for the bulls. A buy entry above $1.03958 could target $1.04523, with a stop-loss at $1.03575 to manage downside risks. A breakout above $1.04518 would strengthen the case for further gains, while a move below $1.03451 could accelerate selling pressure.
EUR/USD - Trade Ideas
Entry Price – Buy Above 1.03958
Take Profit – 1.04523
Stop Loss – 1.03575
Risk to Reward – 1: 1.4
Profit & Loss Per Standard Lot = +$565/ -$383
Profit & Loss Per Mini Lot = +$56/ -$38
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