Daily Price Outlook

    The EURUSD pair's upward march was halted at the 1.1030 level, which corresponds to the disrupted neckline of the double top pattern, as depicted on the chart. It's noteworthy that the price has begun to display a bearish rebound from this juncture, indicating a potential return to the correctional bearish wave and setting negative targets down to 1.0880.

    Hence, we anticipate further bearish propensity in the forthcoming trading sessions, reinforced by the clear negativity exhibited by the Stochastic Oscillator. However, it should be noted that a breach of the 1.1030 level could interrupt the projected decline and steer the price back to the primary bullish trend.

    Today's expected trading range lies between the 1.0900 support and 1.1050 resistance levels.

    The predicted market trend for today is bearish.

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

    EUR/USD - Trade Idea

    Entry Price – Sell Limit 1.10147

    Take Profit – 1.09257

    Stop Loss – 1.10734

    Risk to Reward – 1: 1.50

    Profit & Loss Per Standard Lot = +$890/ -$587

    Profit & Loss Per Micro Lot = +$89/ -$58



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