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

Daily Price Outlook

    * The EUR/USD pair traded negatively and broke the 1.1010 level yesterday, settling below it and under expected negative pressure on the intraday basis.

    * Today, we suggest a bearish bias, but note that the expected decline is temporary and we anticipate resuming the main bullish wave starting at the 1.1075 level.

    * The expected trading range for today is between 1.0930 support and 1.1060 resistance.

Yesterday, the EUR/USD pair traded negatively and broke the 1.1010 level, settling below it and falling under expected negative pressure on the intraday basis. The main target is to test the 1.0945 level. Today, we suggest a bearish bias, noting that the expected decline is temporary and we anticipate resuming the main bullish wave that starts by testing the 1.1075 level.

If the decline continues and breaks the 1.0945 level, the price will be under more correctional bearish pressure, heading towards visiting the 1.0865 areas on a near-term basis. However, if the 1.1010 level is breached, it will represent the key to resume the bullish wave again without the expected decline.

The expected trading range for today is between 1.0930 support and 1.1060 resistance. Keep an eye out for any changes and happy trading!

EUR/USD - Trade Idea

Entry Price – Buy Above 1.09844

Stop Loss – 1.09629

Take Profit – 1.10191

Risk to Reward – 1 : 1.17

Profit & Loss Per Standard Lot = +$347/ -$215

Profit & Loss Per Micro Lot = +$34/ -$21