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

Daily Price Outlook

- EUR/USD trading at $1.0828; pivot point at $1.0847.

- Immediate resistance levels: $1.0878, $1.0912, $1.0949; support levels: $1.0806, $1.0777, $1.0753.

- RSI at 25, 50-day EMA at $1.0894; sell below $1.08474 with a stop loss at $1.08724.

EUR/USD is currently trading at $1.0828, reflecting the latest market movements. The 4-hour chart highlights crucial technical levels that traders should monitor closely. The pivot point is positioned at $1.0847, serving as a central level around which price action is likely to oscillate.

Immediate resistance levels are identified at $1.0878, $1.0912, and $1.0949. These levels represent potential selling points where the market may encounter resistance if it attempts to rise.

On the downside, immediate support levels are found at $1.0806, $1.0777, and $1.0753. These levels are critical as they indicate potential areas where buying interest may emerge, preventing further declines.

The Relative Strength Index (RSI) is currently at 25, suggesting that the market is in oversold territory.

This indicates a potential for a rebound if buyers step in at lower levels. The 50-day Exponential Moving Average (EMA) stands at $1.0894, acting as a dynamic resistance level that traders should watch for potential price reactions.

Given the current technical setup, the recommendation is to sell below $1.08474. The take profit level is set at $1.08068, providing a reasonable downside target. A stop loss is advised at $1.08724 to manage risk, protecting against potential upward reversals.

In conclusion, the technical outlook for EUR/USD suggests a bearish sentiment below the pivot point of $1.0847.

EUR/USD - Trade Ideas

Entry Price – Sell Below 1.08474

Take Profit – 1.08068

Stop Loss – 1.08724

Risk to Reward – 1: 1.6

Profit & Loss Per Standard Lot = +$406/ -$250

Profit & Loss Per Mini Lot = +$40/ -$25