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

Daily Price Outlook

- Immediate Resistance at $1.12153; breaking higher could target $1.12309.

- Immediate Support at $1.11618; the 50-day EMA at $1.11418 offers strong support.

- RSI at 65 indicates bullish momentum but could near overbought territory if it rises further.

The EUR/USD pair is trading at $1.11872, up 0.07%, as it consolidates near recent highs. A break above the pivot point at $1.11983 could signal further bullish momentum, especially as traders eye immediate resistance at $1.12153. Additional resistance levels to watch include $1.12309 and $1.12485, which, if breached, could drive the pair higher in the short term.

On the downside, the immediate support level rests at $1.11618, followed by deeper supports at $1.11509 and $1.11350. The 50-day Exponential Moving Average (EMA), currently positioned at $1.11418, offers a strong support base, signaling a bullish outlook as long as the price remains above this average.

The Relative Strength Index (RSI) is currently at 65, indicating a bullish trend, but a move above 70 would signal overbought conditions, potentially leading to short-term profit-taking.

For short-term traders, a buy limit order around $1.11770 could provide an attractive entry point, targeting a take-profit level at $1.12153, with a conservative stop-loss set at $1.11626. This setup provides a balanced approach, capitalizing on upward momentum while safeguarding against downside risk.

EUR/USD - Trade Ideas

Entry Price – Buy Limit 1.11770

Take Profit – 1.12153

Stop Loss – 1.11626

Risk to Reward – 1: 2

Profit & Loss Per Standard Lot = +$383/ -$144

Profit & Loss Per Mini Lot = +$38/ -$14