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

Daily Price Outlook

- Bullish Sentiment: The RSI at 64 and the MACD values suggest a bullish outlook for EUR/USD.

- Resistance Levels: Key resistances at $1.1020 and $1.1143 could be tested if the upward trend persists.

- Chart Patterns: The ascending triangle breakout at 1.09901 reinforces the bullish trend, indicating potential for further gains.

As Christmas day unfolds, the EUR/USD pair is showing a modest uptick, currently trading at 1.10146, marking a slight increase of 0.02%. This movement comes amidst a complex backdrop of economic uncertainties and shifting market sentiments.

The primary pivot point for the pair is established at $1.0882. Looking ahead, immediate resistance is observed at $1.1020. Should the Euro maintain its upward trajectory, further resistance could be encountered at $1.1143 and $1.1291. On the downside, immediate support lies at $1.0754, with additional safety nets at $1.0606 and $1.0482.

The Relative Strength Index (RSI) stands at 64, indicating a bullish sentiment that is not yet in the overbought territory. This suggests there could be room for further upward movement, although caution is always advised in such volatile markets.

The Moving Average Convergence Divergence (MACD) shows a value of 0.00020 with a signal line at 0.00247. This alignment hints at potential bullish momentum in the near term, suggesting the Euro might continue its upward trend against the Dollar.

Furthermore, an ascending triangle breakout at 1.09901 indicates a buying trend for the EUR/USD pair. This pattern, often associated with bullish momentum, suggests a continuation of the upward trend, provided the pair maintains its stance above this breakout point.

In conclusion, the overall trend for the EUR/USD pair appears to be bullish, especially if it remains above the 1.09901 threshold. In the short term, the pair is likely to test the immediate resistance levels, with a potential to push towards higher resistances depending on the prevailing market conditions and economic data releases.

EUR/USD - Trade Idea 

Entry Price – Buy Limit 1.09901

Take Profit – 1.10542

Stop Loss – 1.09446

Risk to Reward – 1: 1.4

Profit & Loss Per Standard Lot = +$641/ -$455

Profit & Loss Per Mini Lot = +$64/ -$45