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

Daily Price Outlook

- Pivot Point: Key level at $1.11092; watch for price action around this point.

- RSI: Neutral at 58; could shift based on upcoming moves.

- 50 EMA: Support at $1.10510; maintaining a bullish outlook above this level.

The EUR/USD is currently holding steady at $1.11136, showing a modest increase of 0.01% for the day. The pair is navigating a relatively narrow trading range, with the pivot point resting at $1.11092, acting as a critical level for determining the short-term direction.

As we look at the 4-hour chart, the immediate resistance is marked at $1.11644, followed by higher levels at $1.11910 and $1.12238. On the downside, immediate support can be found at $1.10769, with further support levels at $1.10491 and $1.10194.

The technical indicators offer a mixed picture, with the RSI sitting at 58, signaling neutral momentum that could sway in either direction depending on the upcoming price action.

Meanwhile, the 50-day EMA at $1.10510 is providing solid support, indicating that the pair is maintaining a bullish bias above this level.

If the EUR/USD manages to break above the $1.11644 resistance, we could see a continuation of the upward trend, potentially driving the price toward the $1.11910 level.

However, if the pair fails to hold above the $1.11092 pivot point, a decline toward the $1.10769 support level could be on the cards. Traders should be cautious, as a break below $1.10769 might trigger a deeper correction.

EUR/USD - Trade Ideas

Entry Price – Buy Above 1.11091

Take Profit – 1.11644

Stop Loss – 1.10752

Risk to Reward – 1: 1.6

Profit & Loss Per Standard Lot = +$553/ -$339

Profit & Loss Per Mini Lot = +$55/ -$33