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

Daily Price Outlook

- EUR/USD bullish above $1.1146, with resistance targets at $1.1181 and $1.1210.

- 50-day EMA at $1.1131 supports the upward trend, reinforcing bullish sentiment.

- RSI at 58 suggests there is room for further gains before overbought conditions emerge.

The EUR/USD pair is trading at $1.11650, up by 0.04%, maintaining a slightly bullish tone as it holds above the key pivot point at $1.1146. Immediate resistance is seen at $1.1181, with additional resistance targets at $1.1210 and $1.1241.

A break above these levels could indicate further upside potential for the euro, especially if market sentiment towards the U.S. dollar remains weak.

On the downside, immediate support is located at $1.1118, followed by $1.1094 and $1.1067. These levels could serve as key turning points if bearish pressure intensifies.

The 50-day Exponential Moving Average (EMA) at $1.1131 is providing near-term support, reinforcing the bullish bias as long as prices stay above this level.

The Relative Strength Index (RSI) currently stands at 58, suggesting that the market still has room to move higher before hitting overbought territory. With the RSI not yet signaling overextension, there is potential for the pair to continue its upward momentum.

However, traders should monitor any break below $1.1118, which could signal a deeper pullback or trend reversal.

In conclusion, the EUR/USD outlook remains bullish as long as the pair holds above $1.1146. A break above $1.1181 would confirm continued bullish momentum, while a fall below $1.1118 could lead to a bearish correction.

EUR/USD - Trade Ideas

Entry Price – Buy Above 1.11466

Take Profit – 1.11988

Stop Loss – 1.11174

Risk to Reward – 1: 1.7

Profit & Loss Per Standard Lot = +$522/ -$292

Profit & Loss Per Mini Lot = +$52/ -$29