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

Daily Price Outlook

- Immediate Support: The $1.1150 level is crucial, with the 50-day EMA at $1.1117 providing additional support.

- Pivot Point Resistance: $1.1201 serves as the immediate resistance, with further barriers at $1.1232 and $1.1266.

- Bearish Sentiment: The RSI at 46 suggests room for further downside, with a break below $1.1150 likely leading to additional losses.

The Euro (EUR/USD) is currently trading at $1.11369, down 0.17% on the day, as the pair struggles to maintain momentum above key support levels.

On the 4-hour chart, the immediate support lies at $1.1150, which aligns closely with the 50-day Exponential Moving Average (EMA) at $1.1117.

A decisive break below this support could accelerate the pair’s decline, potentially leading to a test of the next support levels at $1.1107 and $1.1072.

These levels have previously acted as strong support and are critical in determining the short-term direction of the EUR/USD.

On the upside, the pivot point at $1.1201 serves as the immediate resistance. The pair would need to clear this level to challenge the next resistance at $1.1232, followed by $1.1266.

These resistance levels represent significant barriers that the Euro must overcome to reverse the current bearish sentiment.

The RSI indicator is currently at 46, suggesting that there is room for further downside before reaching oversold conditions.

The overall technical outlook remains bearish, with the Euro struggling to gain traction above $1.1150. The 50-day EMA will be a crucial level to watch, as a break below it could signal further losses.

Conversely, a sustained move above the $1.1201 pivot point could provide the necessary momentum for a recovery.

EUR/USD - Trade Ideas

Entry Price – Sell Below 1.11503

Take Profit – 1.10988

Stop Loss – 1.11798

Risk to Reward – 1: 1.7

Profit & Loss Per Standard Lot = +$515/ -$295

Profit & Loss Per Mini Lot = +$51/ -$29