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

Daily Price Outlook

- Pivot point at $1.0848 remains critical for determining the next direction.

- The 50-day EMA at $1.0877 acts as a strong resistance level.

- RSI at 39 suggests mildly oversold conditions, but further downside remains possible.

The EUR/USD pair is trading slightly higher today, up 0.11% at $1.08375. The market is hovering below the key pivot point at $1.0848, which serves as a critical level for short-term direction. Immediate resistance is seen at $1.0868, followed by higher resistance levels at $1.0892 and $1.0916. A break above these levels could signal further bullish momentum for the euro against the dollar, with buyers targeting the next resistance zones.

On the downside, immediate support is at $1.0811, with further support levels at $1.0794 and $1.0779. A sustained move below these support areas could push EUR/USD into a deeper correction, where a more bearish outlook would prevail.

The 50-day Exponential Moving Average (EMA) at $1.0877 is acting as a resistance level, keeping the euro in check. Meanwhile, the Relative Strength Index (RSI) is currently at 39, indicating mildly oversold conditions but not yet signaling a significant reversal. Given this context, traders are likely watching for a potential breakdown below the pivot point to enter short positions.

A selling opportunity arises below $1.08488, with a take-profit target set at $1.07941. A stop loss should be placed at $1.08766 to manage risk, as a break above the 50-day EMA would invalidate the bearish setup.

EUR/USD - Trade Ideas

Entry Price – Sell Below 1.08488

Take Profit – 1.07941

Stop Loss – 1.08766

Risk to Reward – 1: 1.9

Profit & Loss Per Standard Lot = +$547/ -$278

Profit & Loss Per Mini Lot = +$54/ -$27