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

Daily Price Outlook

- Bearish Momentum: EUR/USD remains below the $1.09529 pivot point, indicating sustained bearish pressure.

- Immediate Support Levels: Key support lies at $1.09400; a break could push prices lower toward $1.09275 and $1.09141.

- RSI at 39: RSI indicates a nearing oversold condition, which could support a potential short-term recovery if $1.09400 holds.

The Euro (EUR/USD) is currently trading at $1.09616, down 0.17% for the day, as bearish momentum dominates. The pair is moving below the key pivot point of $1.09529 on the 4-hour chart, signaling continued downward pressure. Immediate resistance is situated at $1.09991, followed by $1.10163 and $1.10362, suggesting that buyers will need to push the pair above these levels to regain control.

On the downside, immediate support lies at $1.09400, with additional supports at $1.09275 and $1.09141. A break below $1.09400 could lead to further declines, targeting these lower levels. The 50-day Exponential Moving Average (EMA) at $1.09906 is currently acting as a critical resistance level, reflecting a bearish bias as long as prices remain beneath it.

The Relative Strength Index (RSI) stands at 39, indicating a nearing oversold condition that could trigger a potential consolidation or short-term rebound if support holds.

Traders may consider a buying opportunity if EUR/USD breaks above $1.09527, targeting a move to $1.09924, with a stop-loss set below $1.09278 to manage risk. On the other hand, failure to hold above $1.09529 could signal a deeper correction toward the next support at $1.09275.

EUR/USD - Trade Ideas

Entry Price – Buy Above 1.09527

Take Profit – 1.09924

Stop Loss – 1.09278

Risk to Reward – 1: 1.5

Profit & Loss Per Standard Lot = +$397/ -$249

Profit & Loss Per Mini Lot = +$39/ -$24