Daily Price Outlook

    The EUR/USD pair is currently hovering around the 1.0880 mark, and its recent closure beneath this level sustains the bearish outlook for the foreseeable future. The subsequent target is set at 1.0785.

    The influence of the EMA50 remains bearish, exerting downward pressure on the price and reinforcing the projected downtrend. This assessment is further supported by the presence of a double top pattern on the chart. It's noteworthy that a solid consolidation above 1.0880 would negate the negative scenario and potentially initiate a recovery phase, with an initial target at the 1.0955 level.

    For the current day, the expected trading range spans between the support at 1.0790 and the resistance at 1.0950.

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

    EUR/USD - Trade Idea

    Entry Price – Sell Below 1.08890

    Take Profit – 1.08401

    Stop Loss – 1.09247

    Risk to Reward – 1: 1.3

    Profit & Loss Per Standard Lot = +$489/ -$357

    Profit & Loss Per Micro Lot = +$48/ -$35



    24/7 live support, lightning fast withdrawals, guaranteed safe and reliable trading platforms with a true ECN broker.