EUR/USD Price Analysis and Trade Forecast: Daily Trading Signal
Daily Price Outlook
- EUR/USD starts the day with positive momentum, aiming to break through the current sideways range resistance and continue the bullish trend towards 1.1275.
- Sustaining levels above 1.1200 is crucial for the bullish wave to persist, with potential targets extending to 1.1418.
- Traders should keep an eye on the trading range of 1.1170 support and 1.1330 resistance for today's session.
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
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