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

Daily Price Outlook

The EURUSD currency pair currently hovers around the 1.0785 mark. It's observed that the stochastic exhibits a measured waning of its bullish momentum, concurrently with the EMA50 exerting downward pressure on the pair.

Considering these indicators, there's a heightened propensity for the pair to revert to its overarching bearish trajectory, as delineated within the bearish channel depicted on the chart. A definitive breach below the current level could signal a trajectory towards the 1.0700 benchmark. Conversely, surpassing the 1.0835 threshold might catalyze intraday advancements, with a potential aim to approach the 1.0880 mark before any subsequent retracements.

For today, the anticipated trading range is set between the 1.0720 support and 1.0880 resistance levels.

EUR/USD - Trade Idea

Entry Price – Buy Above 1.08033

Take Profit – 1.08406

Stop Loss – 1.07726

Risk to Reward – 1: 1.2

Profit & Loss Per Standard Lot = +$373/ -$307

Profit & Loss Per Micro Lot = +$37/ -$30