Daily Price Outlook

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

    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



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