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

Daily Trading Signal

    * EUR/USD tests EMA50 with slight negative trades.

    * Stochastic indicator shows positive momentum.

    * Main bullish trend targets 1.1030 milestone.

    * Today's trading range: 1.0800 support, 1.0970 resistance.

The EUR/USD pair experienced minor negative movements yesterday, testing the EMA50 as the stochastic indicator displays a clear positive momentum, which is anticipated to encourage the price to continue its primary bullish trend, targeting 1.1030 as the next milestone.

Thus, our positive outlook will persist for the foreseeable future, keeping in mind that breaching the 1.0845 level could put pressure on the price to test the 1.0745 zone before making another attempt to rise. Today's projected trading range lies between 1.0800 support and 1.0970 resistance.

EUR/USD - Trade Idea

Entry Price – Buy Above 1.09668

Stop Loss – 1.09366

Take Profit – 1.10408

Risk to Reward – 1 : 2.5

Profit & Loss Per Standard Lot = +$740/ -$302

Profit & Loss Per Micro Lot = +$74/ -$30