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

Daily Price Outlook

- Resistance Levels: Immediate resistance at $1.0955, with further hurdles at $1.0967 and $1.0981.

- Support Levels: Key support at $1.0926, followed by $1.0914 and $1.0900.

- RSI at 44: Indicates neutral momentum, with potential for additional downside if resistance levels hold firm.

The EUR/USD is trading at $1.09337, down 0.02% for the day, as the pair struggles to break through key resistance levels. The currency pair remains below its pivot point at $1.0942, suggesting that bearish momentum is still in play.

Immediate resistance is observed at $1.0955, followed by the 50-day Exponential Moving Average (EMA) at $1.0957, which has been capping the upside for the past week. A clear break above $1.0955 could pave the way for EUR/USD to target the next resistance levels at $1.0967 and $1.0981.

On the downside, immediate support is seen at $1.0926, with further support levels at $1.0914 and $1.0900. A drop below $1.0926 could trigger additional selling pressure, pushing the pair toward the psychological $1.0900 mark. The Relative Strength Index (RSI) is currently at 44, indicating neutral momentum and leaving room for further downside if the pair fails to reclaim $1.0942.

Given the current technical setup, a sustained move below $1.0942 may signal a bearish trend continuation, targeting lower support levels. Conversely, a breakout above the 50-day EMA at $1.0957 would shift the outlook to bullish, potentially driving the EUR/USD higher.

Overall, the EUR/USD outlook remains cautiously bearish below the pivot point of $1.0942, and traders should watch for a confirmed break above or below key levels to determine the pair’s next directional move.

EUR/USD - Trade Ideas

Entry Price – Sell Below 1.09424

Take Profit – 1.09130

Stop Loss – 1.09583

Risk to Reward – 1: 1.8

Profit & Loss Per Standard Lot = +$294/ -$159

Profit & Loss Per Mini Lot = +$29/ -$15