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

Daily Price Outlook

• The EURUSD pair confidently crossed the 1.0940 mark, strengthening our bullish outlook for future sessions.
• The pair’s completion of an inverted head and shoulders pattern suggests continued bullishness in the short term.
• If the pair dips below 1.0940, it may face negative pressure, pushing it to test the 1.0860 level before rebounding.

In an exciting twist, the EURUSD pair has boldly leapfrogged the 1.0940 level and ended the day above it. This move has fortified our bullish expectations for the upcoming trading sessions and paves the way for the pair to journey towards the next upbeat stop at 1.1075.

As the pair has charted an inverted head and shoulders pattern, we remain bullish on both intraday and short-term projections.

However, we’d like to strike a note of caution: if the pair breaks below the 1.0940 level, it could find itself under a dark cloud of negative pressure, potentially dragging it down to test the 1.0860 area before it can bounce back up.

Today’s trading range is expected to oscillate between the 1.0880 support and the 1.1040 resistance.

Overall, we are feeling bullish about today’s trend. It’s going to be an interesting ride!

EUR/USD Price Chart – Source: Tradingview

EUR/USD – Trade Idea

Entry Price – Sell Below 1.09756 Take Profit – 1.08907 Stop Loss – 1.10264 Risk to Reward – 1: 1.6 Profit & Loss Per Standard Lot = +$849/ -$508 Profit & Loss Per Micro Lot = +$84/ -$50