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

Daily Price Outlook

The EUR/USD pair is currently trading in a sideways manner within a tight range, as indicated on the chart. It is noteworthy that the stochastic indicator is showing signs of improvement, hinting at a potential shift towards positive momentum.

This positive momentum could potentially support the continuation of the main bullish trend, with the next target set at 1.1275.

Hence, our previously optimistic outlook remains intact and valid for the near future, with the support of the EMA50. It should be noted that surpassing the targeted level may extend the bullish wave towards 1.1418.

However, if the price breaks below 1.1200, a temporary intraday bearish correction may occur before the upward movement resumes.

EUR/USD - Trade Idea

Entry Price – Sell Limit 1.12632

Take Profit – 1.11016

Stop Loss – 1.13322

Risk to Reward – 1: 2.3

Profit & Loss Per Standard Lot = +$1616/ -$690

Profit & Loss Per Micro Lot= +$161/ -$69