Daily Price Outlook
- EUR/USD shows signs of persistent decline, with the stochastic oscillator indicating a negative trend aiming for 1.0635.
- A sustained bearish trend is anticipated for future sessions, contingent on breaking below the 1.07207 threshold.
- Today's forecasted trading parameters range from a 1.0660 support to a 1.0810 resistance.
The EUR/USD pair displays indications of continued downward movement. Current observations note a negative correlation in the stochastic oscillator, bolstering the likelihood of an extended bearish trend for the day, with a primary target set at 1.0635.
Our analysis maintains a bearish outlook for subsequent sessions only if it manages to break below 1.07207 level. For today, we project a trading range with support at 1.0660 and resistance at 1.0810.
EUR/USD - Trade Idea
Entry Price – Buy Above 1.07224
Take Profit – 1.07666
Stop Loss – 1.06998
Risk to Reward – 1: 1.9
Profit & Loss Per Standard Lot = +$442/ -$226
Profit & Loss Per Micro Lot = +$44/ -$22
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