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

Daily Price Outlook

- EUR/USD trading at $1.08102, down 0.07%, around the pivot point of $1.0806.

- Immediate resistance at $1.0828; support levels at $1.0784, $1.0767, and $1.0751.

- RSI at 38 suggests oversold conditions; 50-day EMA at $1.0846 is a key resistance.

The EUR/USD pair is currently trading at $1.08102, down 0.07%. The technical outlook suggests a mixed sentiment as the price hovers around the pivot point of $1.0806. Immediate resistance is observed at $1.0828, followed by $1.0853 and $1.0882.

On the downside, immediate support is noted at $1.0784, with further support levels at $1.0767 and $1.0751.

The Relative Strength Index (RSI) is currently at 38, indicating that the pair is approaching oversold conditions. This suggests a potential for a reversal or stabilization in the near term.

The 50-day Exponential Moving Average (EMA) stands at $1.0846, which serves as a significant resistance level that the price needs to break to confirm a bullish trend.

For traders, an entry strategy would be to buy above $1.0806, aiming for a take-profit level of $1.08407 while setting a stop-loss at $1.07857. This approach leverages the potential for an upward movement while managing downside risks.

In summary, the EUR/USD is experiencing a slight decline, with mixed signals from technical indicators. The pivot point at $1.0806 is crucial for determining the next move, with resistance and support levels providing key areas to watch.

EUR/USD - Trade Ideas

Entry Price – Buy Above 1.0806

Take Profit – 1.08407

Stop Loss – 1.07857

Risk to Reward – 1: 1.6

Profit & Loss Per Standard Lot = +$345/ -$205

Profit & Loss Per Mini Lot = +$34/ -$20