Daily Price Outlook
* EURUSD broke 1.1000 level, indicating a bullish trend towards 1.1075 and possible gains up to 1.1150.
* The price is expected to rise in the short term, but a break below 1.1000 could result in a test of the 1.0945 level.
* Today's trading range is expected to be between 1.0960 support and 1.1120 resistance.
The EURUSD pair rose and broke through the 1.1000 level, settling above it. This strengthens the possibility of continuing the bullish trend in the upcoming sessions and heading towards the first positive target of 1.1075. Breaking this level will result in additional gains that could reach 1.1150.
As a result, the price is expected to rise more in the intraday and short term, with positive momentum helping to achieve the suggested targets. However, if the 1.1000 level is broken, it could halt the current rise and cause the price to test the 1.0945 level again.
The trading range for today is expected to be between support at 1.0960 and resistance at 1.1120.
EUR/USD - Trade Idea
Entry Price – Buy Above 1.10144
Stop Loss – 1.09829
Take Profit – 1.10664
Risk to Reward – 1 : 3.5
Profit & Loss Per Standard Lot = +$520/ -$315
Profit & Loss Per Micro Lot = +$52/ -$31
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