Daily Price Outlook
- The EUR/USD experienced a bearish shift after approaching the 1.0955 resistance, aiming for a potential drop to 1.0785 upon breaking the 1.0880 barrier.
- Current sentiment is predominantly bearish, with the EMA50 highlighting continued negative momentum.
- A surpass of the 1.0955, then 1.1030 markers, would counter the expected decline, hinting at a return to a dominant bullish trend.
The EUR/USD pair exhibited a bearish rebound upon encountering the initial significant resistance at 1.0955, signaling an intent to continue its corrective downward trajectory. A breach of the 1.0880 mark is crucial to pave the way for our subsequent target at 1.0785.
Given these dynamics, the prevailing outlook remains bearish for the forthcoming period, further reinforced by the negative momentum implied by the EMA50.
It's noteworthy that surpassing the 1.0955 level, followed by the 1.1030 threshold, would nullify the anticipated decline, steering the pair back toward a primary bullish trend.
Today, we foresee a trading spectrum with a floor at 1.0820 and a ceiling at 1.0970.
EUR/USD - Trade Idea
Entry Price – Sell Below 1.09313
Take Profit – 1.08499
Stop Loss – 1.09766
Risk to Reward – 1: 1.8
Profit & Loss Per Standard Lot = +$814/ -$453
Profit & Loss Per Micro Lot = +$81/ -$45
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.
JOIN LONGHORNFX TODAY
24/7 live support, lightning fast withdrawals, guaranteed safe and reliable trading platforms with a true ECN broker.