Daily Price Outlook

- EUR/USD trading at $1.08364, down 0.11%, indicating a cautious short-term outlook.

- Immediate resistance at $1.0881, immediate support at $1.0818.

- RSI at 48 and 50 EMA at $1.0840 indicate a slightly bearish trend.

EUR/USD is trading at $1.08364, down 0.11% in the 4-hour timeframe. The technical outlook indicates that the pair is trading just below the pivot point of $1.0841, suggesting a bearish bias in the near term.

Immediate resistance is noted at $1.0881, with subsequent resistance levels at $1.0895 and $1.0914. On the support side, immediate support is identified at $1.0818, followed by $1.0795 and $1.0776.

The Relative Strength Index (RSI) stands at 48, indicating a neutral market sentiment, slightly leaning towards the bearish side. The 50-day Exponential Moving Average (EMA) is positioned at $1.0840, just above the current price, reinforcing the bearish outlook.

Given the technical indicators, the strategy for traders is to consider selling below $1.0841, with a take profit target set at $1.0795 and a stop loss at $1.0881. This recommendation is based on the current bearish trend and the positioning of key technical levels.

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

EUR/USD - Trade Ideas

Entry Price – Sell Below 1.08411

Take Profit – 1.08082

Stop Loss – 1.08620

Risk to Reward – 1: 1.5

Profit & Loss Per Standard Lot = +$329/ -$209

Profit & Loss Per Mini Lot = +$32/ -$20



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