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

Daily Price Outlook

- EUR/USD reclaims $1.1016, signaling renewed bullish strength.

- RSI near 62 points to momentum with more room to run.

- Break above $1.1147 could target $1.1220 in the short term.

EUR/USD is holding firm above the $1.1016 breakout zone, with bullish momentum picking up after a period of consolidation. The pair is trading around $1.1054, continuing its upward move after bouncing off trendline and 50-SMA support near $1.0906. This area remains a key inflection point for buyers, as it aligns with the broader ascending trendline visible since early March.

A clear break above $1.1016 has shifted near-term sentiment back in favor of the bulls. The next immediate resistance stands at $1.1147, which also aligns with last week's swing high. A break above that could open the door toward $1.1220 and eventually $1.1293 if upside momentum continues.

On the flip side, $1.1016 now serves as a short-term support level, with a protective cushion at $1.0938. Below that, $1.0906 marks the base of the current bullish structure.

The Relative Strength Index (RSI) is printing at 62, suggesting strong bullish momentum but not yet in overbought territory. This leaves room for the rally to continue, especially if the pair can sustain above $1.1016 through the upcoming sessions.

The setup remains constructive, favoring long positions above $1.1016 with a take-profit target near $1.1147 and a stop-loss placed at $1.0938. A break below $1.0938 would likely invalidate the current bullish bias and put pressure back on the $1.0906 zone.

EUR/USD - Trade Ideas

Entry Price – Buy Above 1.10169

Take Profit – 1.11476

Stop Loss – 1.09386

Risk to Reward – 1: 1.6

Profit & Loss Per Standard Lot = +$1307/ -$783

Profit & Loss Per Mini Lot = +$130/ -$78