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

Daily Price Outlook

EUR/USD has successfully reached its first negative target at 1.0935, and there are indications of further downward movement in the upcoming sessions, potentially leading to the next significant target at 1.0835.

As we closely monitor the intraday levels, the 50 SMA is exerting negative pressure on the pair. However, there is a possibility of a potential reversal if EUR/USD manages to pierce through the resistance levels at 1.0955 and 1.0990, effectively halting the current downward trend and steering the pair back into the ascending channel.

For today's trading, we anticipate the EUR/USD to move within the trading range of support at 1.0840 and resistance at 1.1000. As per our analysis, the expected trend for today remains bearish.

EUR/USD - Trade Idea

Entry Price – Sell Below 1.09495

Take Profit – 1.08757

Stop Loss – 1.10182

Risk to Reward – 1: 1

Profit & Loss Per Standard Lot = +$738/ -$687

Profit & Loss Per Micro Lot = +$73/ -$68