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

Daily Price Outlook

- Bearish Sentiment: EUR/USD is trading below its pivot point at $1.1039, indicating potential weakness.

- Key Support Levels: Immediate support at $1.1017; a break below this could push the pair toward $1.1002.

- Resistance Barriers: Overhead resistance stands at $1.1055, limiting bullish attempts.

The EUR/USD pair is currently trading at $1.10275, a slight dip of 0.02%, as the euro struggles to find direction amid a stronger US dollar. The pair is hovering just below its pivot point of $1.1039, signaling potential weakness ahead. Immediate resistance is seen at $1.1055, followed by $1.1066 and $1.1083. A break above these levels could trigger a bullish recovery, but the broader trend remains cautious as the 50-day Exponential Moving Average (EMA) at $1.1082 continues to cap upside momentum.

On the downside, immediate support is noted at $1.1017, followed by $1.1002 and $1.0984. A breach below $1.1017 could accelerate selling pressure, with the next target at $1.1002. The RSI stands at 38, suggesting a bearish bias, though not yet in oversold territory, indicating the pair still has room for further declines.

Traders might consider a sell entry below $1.10387, targeting $1.10072, with a stop-loss placed at $1.10550. This setup aligns with the ongoing bearish momentum, as the pair remains below key moving averages and continues to test lower support levels. A sustained move below $1.1017 would confirm further downside potential, possibly pushing the pair toward $1.0984.

In the near term, the outlook for EUR/USD is tilted to the downside unless we see a significant break above $1.1055, which could negate the bearish scenario and attract new buyers.

EUR/USD - Trade Ideas

Entry Price – Sell Below 1.10387

Take Profit – 1.10072

Stop Loss – 1.10550

Risk to Reward – 1: 1.9

Profit & Loss Per Standard Lot = +$315/ -$163

Profit & Loss Per Mini Lot = +$31/ -$16