Technical Analysis

EUR/USD Price Analysis – April 10, 2023

By LonghornFX Technical Analysis
Apr 10, 20232 min

Daily Price Outlook

The EUR/USD pair began today's trading session with a clear negative trend, breaking the intraday bullish trend line and moving towards the expected decline on an intraday basis.

The initial target is to test 1.08830, and monitoring the price when it reaches this level is essential. Breaking this level would extend the bearish wave to reach 1.8480 areas as the next main station.

Therefore, a bearish bias is suggested today, especially since the price is now below the 50-day exponential moving average. At the same time, the RSI and MACD are also in the sell zone.

However, if the pair breaches 1.09070, it will stop the negative scenario and lead to a resumption of the main bullish wave. The expected trading range for today is between support at 1.0730 and resistance at 1.0875.

 EUR/USD Price Chart - Source: Tradingview

EUR/USD Trade Idea

Entry Price – Sell Stop 1.0880

Stop Loss – 1.0920

Take Profit – 1.0819

Risk to Reward – 1: 1.25

Profit & Loss Per Standard Lot = +$610/ -$400

Profit & Loss Per Micro Lot = +$61/ -$40


    * GOLD Price Analysis – April 10, 2023

    * GBP/JPY Price Analysis – April 10 2023

    * EUR/USD Price Analysis – April 07, 2023


24/7 live support, lightning fast withdrawals, guaranteed safe and reliable trading platforms with a true ECN broker.