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

Daily Price Outlook

- Immediate Resistance: $1.10832 – A break above could lead to testing the next resistance at $1.10952.

- Immediate Support: $1.10461 – Failure to hold this level could result in a decline to $1.10254 and $1.10051.

- Pivot Point: $1.10695 – Currently acting as a short-term neutral level.

EUR/USD is currently trading at $1.10651, down 0.02% in today’s session. The pair has struggled to gain traction, reflecting the broader uncertainty in global currency markets. After testing the $1.10832 resistance level earlier today, EUR/USD failed to break higher, suggesting that bearish momentum is still intact. The 50-day Exponential Moving Average (EMA) at $1.11405 continues to act as a strong resistance, capping further upside potential.

The Relative Strength Index (RSI) has dipped to 32, indicating bearish momentum and suggesting that EUR/USD could face additional downward pressure if it drops below 30. On the downside, immediate support is seen at $1.10461. A break below this level could accelerate declines toward $1.10254 and $1.10051. Conversely, for a bullish reversal to take hold, the pair must decisively break above the pivot point at $1.10695 and test the resistance levels at $1.10832 and $1.10952.

Short-term technical indicators suggest that EUR/USD may experience further declines if it fails to regain ground above $1.10695. The pair remains under selling pressure, with an entry below $1.10694 offering potential profit at $1.10453. Traders should watch for a move above $1.10832 to signal a potential bullish reversal.

EUR/USD - Trade Ideas

Entry Price – Sell Below 1.10694

Take Profit – 1.10453

Stop Loss – 1.10838

Risk to Reward – 1: 1.6

Profit & Loss Per Standard Lot = +$241/ -$144

Profit & Loss Per Mini Lot = +$24/ -$14