Daily Price Outlook
The EUR/USD pair has verified its breach of the 1.1032 level by closing the daily candlestick above it, providing further assurance of the ongoing dominance of the bullish trend.
It's important to note that our next target is situated at 1.1100, and breaking through this level is crucial for extending the bullish wave towards the 1.1270 region.
As a result, we will maintain our bullish outlook for the upcoming period, supported by the 50-day exponential moving average (EMA), which underpins the price.
However, it's essential to be aware that breaking the 1.1032 level, followed by the 1.0980 level, would halt the anticipated rise and exert pressure on the price to undergo some intraday bearish correction.
EUR/USD Trade Idea
Entry Price – Buy Above 1.1045
Stop Loss – 1.1012
Take Profit – 1.1117
Risk to Reward – 1 : 2
Profit & Loss Per Standard Lot = +$710/ -$333
Profit & Loss Per Micro Lot = +$71/ -$33
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