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

Daily Price Outlook

- Immediate resistance is at $1.1183; a break above could target $1.1198 and $1.1214.

- Support is firm at $1.1154, with the 50 EMA at $1.1162 providing additional backing.

- RSI at 51 signals neutral momentum; a move above 60 could indicate a bullish shift.

The EUR/USD pair is currently trading at $1.11672, down 0.14% in today’s session, as traders remain cautious ahead of key macroeconomic data releases. The pair is hovering around the pivot point of $1.1164, a critical level that could dictate the direction of the next move.

Immediate resistance is seen at $1.1183, followed by $1.1198 and a more significant level at $1.1214. A breakout above these levels could trigger bullish momentum, driving the pair higher.

On the downside, immediate support lies at $1.1154, with further supports at $1.1140 and $1.1126. These levels will be crucial in maintaining the pair’s current uptrend.

The 50-day Exponential Moving Average (EMA) at $1.1162 is providing immediate support, aligning closely with the pivot point. A sustained move above this EMA could signal bullish continuation, while a break below could lead to a deeper correction.

The Relative Strength Index (RSI) is at 51, indicating neutral momentum. This suggests the pair could go either way, depending on how it interacts with immediate support and resistance levels. If the RSI rises above 60, it could indicate a stronger bullish trend. However, a dip below 50 could shift the sentiment to bearish.

In conclusion, EUR/USD is at a critical juncture, with the potential for both bullish and bearish scenarios.

EUR/USD - Trade Ideas

Entry Price – Buy Above 1.11637

Take Profit – 1.11938

Stop Loss – 1.11493

Risk to Reward – 1: 2

Profit & Loss Per Standard Lot = +$301/ -$144

Profit & Loss Per Mini Lot = +$30/ -$14