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

Daily Price Outlook

• The EUR/USD pair showed strong upward momentum, reaching the 1.1000 level and continuing with a positive tone today.
• The bullish trend remains intact, supported by a bullish channel on the chart and the EMA50.
• Holding above 1.0940 is important for sustaining the rise, while breaching the target level would extend the bullish wave toward 1.1184.

The EUR/USD pair displayed strong upward momentum yesterday, successfully reaching the 1.1000 level. Today, the pair continues with a positive tone, aiming to surpass this level and confirm the continuation of the prevailing bullish trend. The next significant target is set at 1.1075.

The bullish trend remains intact and well-defined within a bullish channel visible on the chart. The EMA50 provides additional support, further reinforcing the upward movement. Holding above 1.0940 is crucial to sustain the rise, and surpassing the target level would extend the bullish wave towards the 1.1184 area.

The expected trading range for today is between the support level at 1.0960 and the resistance level at 1.1105.

Overall, the outlook for today indicates a bullish trend in the EUR/USD pair.

EUR/USD Price Chart – Source: Tradingview

EUR/USD - Trade Idea

Entry Price – Buy Limit 1.09968

Take Profit – 1.10912

Stop Loss – 1.09554

Risk to Reward – 1: 2

Profit & Loss Per Standard Lot = +$944/ -$414

Profit & Loss Per Micro Lot = +$94/ -$41