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

Daily Price Outlook

- EUR/USD pivot point at $1.08117 signals indecision; short-term breakouts possible.

- Immediate resistance is at $1.08309; a push above this level could lead to $1.08475.

- RSI at 36 and prices below the 50-day EMA suggest mild bearish momentum.

From a technical perspective, EUR/USD is trading just below its pivot point of $1.08117, signaling indecision in the market and the potential for a breakout in either direction.

Immediate resistance is found at $1.08309, followed by $1.08475, and a stronger level at $1.08698. A breach of these resistance levels may trigger a broader upward move, but current momentum remains subdued.

On the downside, immediate support sits at $1.07920, with additional levels at $1.07712 and $1.07486. A break below $1.07920 would likely signal renewed selling pressure, pushing the pair toward these lower support levels.

The Relative Strength Index (RSI) is at 36, indicating mild bearish momentum, as EUR/USD remains in a consolidative phase. The 50-day Exponential Moving Average (EMA), currently at $1.08344, suggests that prices are trading below a critical threshold, reinforcing the short-term bearish outlook.

For traders, a short position could be considered if EUR/USD drops below $1.08179, with a target at $1.07716 and a stop-loss at $1.08478 to manage upside risks.

EUR/USD - Trade Ideas

Entry Price – Sell Below 1.08179

Take Profit – 1.07716

Stop Loss – 1.08478

Risk to Reward – 1: 1.5

Profit & Loss Per Standard Lot = +$463/ -$299

Profit & Loss Per Mini Lot = +$46/ -$29