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

Daily Price Outlook

  - Key Insight: EUR/USD hovers near its pivot, suggesting a neutral stance with cautious bias.

- Key Levels: Immediate resistance at $1.08382; immediate support at $1.07986.

- Outlook: Mildly bearish, with selling interest likely below $1.08223.

The EUR/USD pair is trading just below the pivot point of $1.08223, marking a cautious stance as it edges lower in today’s session. Immediate resistance is noted at $1.08382, with further resistance levels at $1.08568 and $1.08738.

The 50-period Exponential Moving Average (EMA) at $1.08101 aligns closely with the current price, suggesting a tentative neutral bias. The Relative Strength Index (RSI) sits at 52, indicating balanced momentum without strong overbought or oversold signals.

Should the pair sustain a drop below $1.08223, it may attract further selling interest, potentially pushing it toward immediate support at $1.07986. A break beneath this level could open doors to additional downside toward $1.07858 and $1.07686.

Traders may consider short positions below $1.08223, targeting $1.07864, while setting a stop loss around $1.08414 to guard against unexpected volatility. Watch for price action near the pivot for early indications of market direction.

EUR/USD trades near its pivot, with potential for further downside if support levels are broken.

EUR/USD - Trade Ideas

Entry Price – Sell Below 1.08223

Take Profit – 1.07864

Stop Loss – 1.08414

Risk to Reward – 1: 1.8

Profit & Loss Per Standard Lot = +$359/ -$191

Profit & Loss Per Mini Lot = +$35/ -$19