Daily Price Outlook

- EUR/USD is trading at $1.0904 with a bullish outlook above $1.0932.

- Immediate resistance levels are $1.0923, $1.0940, and $1.0964.

- Immediate support levels are $1.0861, $1.0838, and $1.0817.

EUR/USD is currently trading at $1.0904, showing modest upward momentum. The 4-hour chart reveals critical price levels that could influence market direction. The pivot point is set at $1.0932, serving as a key level for potential trend shifts. Immediate resistance is identified at $1.0923, followed by $1.0940 and $1.0964.

These resistance levels indicate potential targets if the price breaks above the pivot point, suggesting a continuation of the bullish trend.

On the downside, immediate support is found at $1.0861, with subsequent support levels at $1.0838 and $1.0817. These levels are crucial for maintaining the current trend and could act as buffers against any sharp declines.

The Relative Strength Index (RSI) is at 61, indicating that the market is in neutral territory but showing signs of upward momentum.

The 50-day Exponential Moving Average (EMA) is positioned at $1.0858, which aligns with the immediate support level, providing additional strength to the current price trend. This EMA acts as a significant indicator of the underlying trend and helps identify potential reversal points.

In conclusion, the outlook for EUR/USD remains bullish above the pivot point of $1.0932. Traders are advised to buy above $1.08940, with an entry price at this level, aiming for a take profit at $1.09323 and setting a stop loss at $1.08722.

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

EUR/USD - Trade Ideas

Entry Price – Buy Above 1.08940

Take Profit – 1.09323

Stop Loss – 1.08722

Risk to Reward – 1: 1.7

Profit & Loss Per Standard Lot = +$383/ -$218

Profit & Loss Per Mini Lot = +$38/ -$21

EUR/USD

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