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

Daily Price Outlook

- EUR/USD faces resistance at $1.1125, with the RSI at 73, signaling overbought conditions.

- Key support levels are at $1.1072 and $1.1049, with the 50-day EMA at $1.1050 providing critical support.

- A break above $1.1125 could drive further gains, but caution is advised as the RSI suggests potential for a near-term pullback.

EUR/USD is trading at $1.11187, up 0.21% as the pair continues its upward trajectory, reflecting strong bullish sentiment. Immediate resistance lies at $1.1125, followed by $1.1151 and $1.1185.

The pair remains supported above its pivot point at $1.1101, signaling potential for further upside. However, with the Relative Strength Index (RSI) reaching 73, overbought conditions suggest that a short-term pullback may be on the horizon.

On the downside, immediate support is seen at $1.1072, followed by $1.1049 and deeper support at $1.1017. The 50-day Exponential Moving Average (EMA) at $1.1050 provides a key level of support, reinforcing the overall bullish trend.

A sustained move above $1.1125 would solidify the upward momentum, though traders should be cautious given the elevated RSI.

Traders are looking to enter above $1.11126 with a take-profit target at $1.11446, positioning the pair for a test of higher resistance.

However, a break below support at $1.1072 would signal a potential reversal and invite selling pressure toward the $1.1049 and $1.1017 levels.

While the broader trend remains bullish, traders should monitor overbought signals and key support levels closely.

EUR/USD - Trade Ideas

Entry Price – Buy Above 1.11126

Take Profit – 1.11446

Stop Loss – 1.10829

Risk to Reward – 1: 1.08

Profit & Loss Per Standard Lot = +$320/ -$297

Profit & Loss Per Mini Lot = +$32/ -$29