Daily Price Outlook

    In today's trading session, the EUR/USD experienced a slight dip of 0.13%, settling at 1.09333, as market participants navigate through a mix of economic indicators and geopolitical developments. The pair's movement within the four-hour chart framework presents a nuanced perspective, especially when dissected through the lens of key price levels and technical indicators.

    The pivot point at 1.09566 serves as a critical juncture, with immediate resistance observed at 1.09750. Further resistance levels are marked at 1.09993 and 1.10264, hinting at potential ceilings that the pair might encounter in its upward momentum. Conversely, support levels are established at 1.09230, followed by 1.09024 and 1.08685, which could offer a cushion against downward price movements.

    Technical indicators add depth to the analysis. The Relative Strength Index (RSI) stands at 64, suggesting that the EUR/USD is teetering on the edge of overbought territory. However, the 50-Day Exponential Moving Average (EMA) at 1.08574 indicates underlying bullish momentum over the medium term, as the current price remains above this moving average.

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

    EUR/USD - Trade Ideas

    Entry Price – Sell Below 1.09430

    Take Profit – 1.09140

    Stop Loss – 1.09640

    Risk to Reward – 1: 1.3

    Profit & Loss Per Standard Lot = +$1092/ -$631

    Profit & Loss Per Mini Lot = +$109/ -$63



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