Daily Price Outlook

    The EUR/USD pair experienced negative trading yesterday and made an attempt to break the 1.1200 level. However, it later rebounded and remained above this level after finding support near 1.1170.

    This keeps our bullish view intact, with further upward movement expected towards our next target at 1.1418.

    The EMA50 indicator continues to provide support for the suggested bullish trend. To strengthen the positive outlook, a breakout above 1.1245 is necessary.

    It is important to note that a break below 1.1200, followed by 1.1170, could exert corrective bearish pressure on the price, with initial targets around the 1.1105 area.

    For today's trading, the expected range is between the support level at 1.1170 and the resistance level at 1.1310.

    EUR/USD Price Chart – Source: Tradingview
    EUR/USD Price Chart – Source: Tradingview

    EUR/USD - Trade Idea

    Entry Price – Sell Limit 1.12477

    Take Profit – 1.10933

    Stop Loss – 1.13392

    Risk to Reward – 1: 1.16

    Profit & Loss Per Standard Lot = +$154/ -$91

    Profit & Loss Per Micro Lot= +$15/ -$9



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