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

Daily Price Outlook

- Buy Entry: Above $1.10197 for a target of $1.10728.

- Immediate Resistance: At $1.1072; a break could lead to further gains.

- Support Levels: Monitor $1.0986 and $1.0956 for potential pullbacks.

EUR/USD is currently trading at $1.10399, showing a slight uptick of 0.11% as the pair hovers near key technical levels.

The pivot point at $1.1073 is the critical level to watch. If the price breaks above this pivot, it could signal further gains. The RSI is at 69, indicating that while the pair is approaching overbought territory, there is still room for upward movement before a potential pullback.

The 50-day Exponential Moving Average (EMA) at $1.0958 is trending upward, supporting the bullish outlook.

Immediate resistance is found at $1.1072, just below the pivot, followed by stronger resistance at $1.1105 and $1.1140.

On the downside, immediate support is at $1.0986, with additional support levels at $1.0956 and $1.0914. A break below these levels could signal a shift in momentum to the downside.

For traders, a buy entry above $1.10197 with a target of $1.10728 could be a strategic move, capturing potential gains as the pair approaches the pivot.

A stop loss at $1.09853 would help manage risk in case of an unexpected downturn.

EUR/USD - Trade Ideas

Entry Price – Buy Above 1.10197

Take Profit – 1.10728

Stop Loss – 1.09853

Risk to Reward – 1: 1.5

Profit & Loss Per Standard Lot = +$531/ -$344

Profit & Loss Per Mini Lot = +$53/ -$34