EUR/USD Price Analysis and Trade Forecast: Daily Trading Signal
Daily Price Outlook
- EUR/USD remains below $1.08740, reinforcing a bearish outlook.
- Immediate support at $1.08094; a breakdown could target $1.07650.
- Dollar strength and ECB policy stance remain key drivers of market direction.
EUR/USD is trading at $1.08339, down 0.03%, as the pair continues to face pressure amid a strengthening U.S. dollar. The euro remains on a downward trajectory, struggling to break past the pivot level at $1.08740.
A failure to reclaim this level suggests that sellers remain in control, with immediate resistance seen at $1.09314, followed by $1.09856 and $1.10365.
On the downside, the $1.08094 support level is a key area to watch. A sustained break below this threshold could accelerate losses toward $1.07650 and $1.07213, reinforcing a broader bearish trend.
The 50-day EMA at $1.08735 is acting as dynamic resistance, further limiting upside potential. A failure to close above this moving average could keep bearish sentiment intact.
For now, a break below $1.08094 could confirm a bearish continuation, with further downside likely.
Conversely, a close above $1.08740 would signal potential stabilization, opening the door for a recovery toward $1.09314.
EUR/USD - Trade Ideas
Entry Price – Sell Below 1.08737
Take Profit – 1.07958
Stop Loss – 1.09200
Risk to Reward – 1: 1.6
Profit & Loss Per Standard Lot = +$779/ -$463
Profit & Loss Per Mini Lot = +$77/ -$46
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