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

Daily Price Outlook

The EUR/USD pair kicks off the day with positive momentum, signaling renewed efforts to break through the resistance of the current sideways range visible on the chart. This development reinforces expectations of a continued bullish trend in the upcoming sessions, with the next target set at 1.1275.

Sustaining levels above 1.1200 holds significant importance for the continuation of the suggested bullish wave. As the rise is anticipated to persist, additional positive targets are within reach, with the potential to surpass the aforementioned level and target 1.1418.

Traders should monitor the expected trading range for today, which is projected to span between the support level of 1.1170 and the resistance level of 1.1330.

In summary, the EUR/USD pair shows promising signs for a bullish breakout as it sets its sights on a key resistance level.

EUR/USD - Trade Idea

Entry Price – Buy Above 1.12086

Take Profit – 1.13650

Stop Loss – 1.10903

Risk to Reward – 1:1.3

Profit & Loss Per Standard Lot = +$156/ -$118

Profit & Loss Per Micro Lot= +$15/ -$11