The EUR/USD currency pair currently exhibits a selling stance after encountering significant resistance near the 1.098 mark. This resistance level, reinforced by a double-top formation, poses a considerable barrier for the euro today.

On the downside, immediate support for the EUR/USD pair lies around the 1.0930 mark, with a significant decline potentially driving the pair further down to 1.0910 or 1.0880 levels. However, if the EUR/USD surpasses 1.0950, it may aim for resistance levels at 1.0980 or 1.1000.

 EURUSD Price Chart - Source: Tradingview

EUR/USD Trade Idea

Entry Price – Sell Below 1.0952

Stop Loss – 1.09830

Take Profit – 1.08831 

Risk to Reward – 1 : 1.6

Profit & Loss Per Standard Lot = +$689/ -$310

Profit & Loss Per Micro Lot = +$68/ -$31

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