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

Daily Price Outlook

- Immediate resistance is at $1.1085, with next resistance at $1.1121.

- RSI at 46 indicates slightly bearish momentum but potential for upside.

- 50-day EMA at $1.1063 is a crucial level for confirming bullish strength.

The EUR/USD pair is currently trading at $1.10476, up by 0.26%, as the euro regains some strength amid continued market volatility.

Traders are closely monitoring the pair as it hovers just below key resistance levels, with near-term sentiment driven by U.S. inflation data and European economic reports.

Immediate resistance stands at $1.1085, with further targets at $1.1121 and $1.1154, suggesting that if bullish momentum persists, the pair could break through these levels.

On the downside, immediate support lies at $1.1018, with additional support seen at $1.0994 and $1.0969. A breach below these support levels could signal a deeper pullback in the near term.

Technical indicators are mixed, with the Relative Strength Index (RSI) at 46, indicating a slightly bearish bias but leaving room for a potential upward move.

The 50-day Exponential Moving Average (EMA) sits at $1.1063, just above the current price, suggesting a critical level to watch. A break above this EMA could confirm a more sustained bullish trend, whereas failure to surpass it may limit gains.

For traders, a potential buying opportunity exists above $1.10185, with a take-profit target set at $1.10757. Stop-loss orders should be placed around $1.09832 to limit downside risk, especially if the pair revisits its support levels.

EUR/USD - Trade Ideas

Entry Price – Buy Above 1.10185

Take Profit – 1.10757

Stop Loss – 1.09832

Risk to Reward – 1: 1.6

Profit & Loss Per Standard Lot = +$572/ -$353

Profit & Loss Per Mini Lot = +$57/ -$35