Daily Price Outlook

    The EUR/USD currency pair has decisively surpassed the 1.0880 benchmark, culminating in a daily candlestick closure beneath this threshold. This development reinforces the projection of an extended bearish trajectory in the forthcoming phase, setting the stage for an eventual descent towards our subsequent objective situated at 1.0785.

    The 50-Day Exponential Moving Average (EMA50) consistently underpins this envisaged downward momentum. It's noteworthy that this sentiment has been influenced by the recently culminated double bottom formation. It's pivotal for investors to recognize that any potential breach of the 1.0880 level could instigate the pair to embark on recovery endeavors, initially aiming for the 1.0955 zones, prior to making another downturn effort.

    For today, the anticipated trading bracket is delineated between the support level of 1.0780 and the resistance at 1.0935.

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

    EUR/USD - Trade Idea

    Entry Price – Sell Below 1.08783

    Take Profit – 1.08370

    Stop Loss – 1.09134

    Risk to Reward – 1: 1.1

    Profit & Loss Per Standard Lot = +$413/ -$351

    Profit & Loss Per Micro Lot = +$41/ -$35



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