Daily Price Outlook
- The EUR/USD pair is currently displaying significant upward momentum as it tests the pivotal resistance level at 1.1030.
- The targeted objectives within this bearish trajectory are set at 1.0955, and further extend to 1.0880.
- In terms of today's expected market dynamics, the projected trading range spans from the support level of 1.0900 to the resistance level of 1.1030.
The EUR/USD pair is exhibiting notable upward momentum as it tests the pivotal resistance level at 1.1030. This prompts a cautious approach in the upcoming trading sessions, emphasizing the importance of the price remaining below this level to sustain the current bearish trend. The associated targets within this bearish trajectory lie at 1.0955 and extend further to 1.0880, contingent on the successful breach of the aforementioned resistance level.
Conversely, it's crucial to acknowledge that a breach of 1.1030, followed by a sustained position above it, would halt the negative scenario and potentially reignite an attempt to reestablish the primary bullish trend. In terms of today's expected market dynamics, the projected trading range spans from the support level of 1.0900 to the resistance level of 1.1030.
Overall, the prevailing trend for today is anticipated to be bearish.
EUR/USD - Trade Idea
Entry Price – Buy Above 1.09614
Take Profit – 1.10350
Stop Loss – 1.09087
Risk to Reward – 1: 1.4
Profit & Loss Per Standard Lot = +$736/ -$527
Profit & Loss Per Micro Lot = +$73/ -$52
Please click here to read and acknowledge our Trade Ideas Disclaimer before using these ideas in your strategies and trading. This document’s information, including forex signals and research, is for general informational and educational purposes only and does not provide specific financial, investment, or trading advice.
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