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

Daily Price Outlook

- EUR/USD trades at $1.09189, below the pivot point of $1.0956, reflecting caution.

- RSI at 54 indicates a neutral stance, with potential for directional shifts.

- Buy at $1.08935, target $1.09557; stop-loss set at $1.08653 for risk management.

The EUR/USD pair is currently trading at $1.09189, marking a 0.14% decline as the market remains cautious amidst mixed economic signals.

The pivot point for today is set at $1.0956, acting as a critical threshold that could determine the currency pair's short-term direction.

Immediate resistance is identified at $1.0955, with further resistance levels at $1.1010 and $1.1043. Overcoming these barriers could signal a potential shift in momentum toward a bullish trend.

On the downside, immediate support is seen at $1.0867, followed by additional support levels at $1.0828 and $1.0777.

The Relative Strength Index (RSI) is positioned at 54, indicating a neutral stance in terms of market momentum, as it sits in the middle of the scale.

The 50-day Exponential Moving Average (EMA) is at $1.0863, suggesting that the market is maintaining a slight bullish bias as long as the price remains above this indicator.

The recommended strategy for traders is to consider entering a long position with a buy limit at $1.08935, targeting a take-profit at $1.09557 while setting a stop-loss at $1.08653 to manage risk.

EUR/USD - Trade Ideas

Entry Price – Buy Limit 1.08935

Take Profit – 1.09557

Stop Loss – 1.08653

Risk to Reward – 1: 2

Profit & Loss Per Standard Lot = +$622/ -$282

Profit & Loss Per Mini Lot = +$62/ -$28