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

Daily Price Outlook

The EUR/USD pair has successfully breached the 1.0955 mark, sealing the daily candlestick beneath it, thus strengthening the anticipation of an extended bearish trajectory in the intraday context, with a subsequent objective set at 1.0880.

The persistent influence of the double top formation is anticipated to exert additional downward pressure, potentially leading the pair to exceed the previously mentioned target, setting its sights on 1.0785 as the subsequent bearish milestone.

Given the adverse momentum steered by the EMA50, a continued bearish sentiment is forecasted in ensuing sessions. It's pivotal to note that for this bearish momentum to persist, the pair should remain below 1.1030.

Today's trading spectrum is delineated with a support at 1.0840 and resistance positioned at 1.1000.

A bullish sentiment will prevail above 1.09249, whereas a stance below this figure leans towards bearishness.

EUR/USD - Trade Idea

Entry Price – Buy Above 1.09228

Take Profit – 1.09679

Stop Loss – 1.08965

Risk to Reward – 1: 1.7

Profit & Loss Per Standard Lot = +$451/ -$263

Profit & Loss Per Micro Lot = +$45/ -$26