Daily Trade Ideas

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

By LonghornFX Technical Analysis
Jul 10, 20232 min
Eurusd

Daily Price Outlook

  • EURUSD closed above 1.0940, indicating a shift towards an upward trend and potential bullish wave towards 1.1075.
  • Breaking below 1.0940 could stop the bullish wave and result in a price decline.
  • Today's trading range: support at 1.0900, resistance at 1.1050.

Last Friday, the EURUSD pair closed above the 1.0940 level, signaling a shift towards an upward trend and paving the way for a bullish wave on the intraday basis. The next target to watch is 1.1075, indicating further upside potential.

With the price moving above the EMA50, the overall bias remains bullish in the upcoming sessions. However, some sideways movement may occur due to stochastic negativity. It's important to wait for positive momentum to confirm the achievement of the expected target.

On the flip side, breaking below 1.0940 would halt the suggested bullish wave and potentially lead to a price decline.

For today's trading, the expected range is between 1.0900 support and 1.1050 resistance.

Overall, the trend for today is expected to be bullish.

EUR/USD Price Chart – Source: Tradingview

EUR/USD - Trade Idea

Entry Price – Sell Limit 1.09722

Take Profit – 1.09312

Stop Loss – 1.09922

Risk to Reward – 1: 2

Profit & Loss Per Standard Lot = +$410/ -$200

Profit & Loss Per Micro Lot = +$41/ -$20

Please click here to read and acknowledge our Trade Ideas Disclaimer before using these ideas in your strategies and trading. This document’s information, including forex signals and research, is for general informational and educational purposes only and does not provide specific financial, investment, or trading advice.

EUR/USD

JOIN LONGHORNFX TODAY

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

OPEN A NEW ACCOUNT