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

Daily Price Outlook

- EUR/USD remains below the $1.1084 pivot point, signaling potential further downside.

- Immediate resistance at $1.1121 caps any near-term bullish momentum.

- Selling below $1.10836 is recommended, with a take-profit target of $1.10323.

The EUR/USD pair is currently trading at $1.10660, edging down by 0.06% as the market faces continued pressure. A weak Euro is struggling to find its footing, with the pair trading just below the pivot point at $1.1084.

With the 50-day Exponential Moving Average (EMA) sitting slightly lower at $1.1082, the pair remains technically bearish, unable to gather the strength needed for an upward breakout.

The RSI indicator stands at 41, reflecting neutral but leaning towards oversold conditions, further reinforcing a bearish sentiment in the short term.

Immediate resistance looms at $1.1121, followed by higher ceilings at $1.1154 and $1.1193.

Without a decisive break above these levels, the Euro may continue to encounter selling pressure, particularly if broader economic concerns such as inflation in the Eurozone continue to cast a shadow over investor sentiment.

On the downside, immediate support can be found at $1.1034, with key levels further below at $1.1000 and $1.0969. If the pair breaches the $1.1034 mark, it could quickly descend toward the psychologically significant $1.1000 level, which serves as a key defensive barrier.

A breakdown below this threshold would likely trigger further declines, exposing the $1.0969 support.

The recommended strategy is to sell positions below $1.10836, with a target profit set at $1.10323. To protect against upside risk, a stop-loss should be placed at $1.11141, just above immediate resistance.

EUR/USD - Trade Ideas

Entry Price – Sell Below 1.10836

Take Profit – 1.10323

Stop Loss – 1.11141

Risk to Reward – 1: 1.6

Profit & Loss Per Standard Lot = +$513/ -$305

Profit & Loss Per Mini Lot = +$51/ -$30