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

Daily Price Outlook

- Immediate Resistance: $1.08558; Next Resistances: $1.08921, $1.09363.

- Immediate Support: $1.07463; Next Supports: $1.06982, $1.06471.

- RSI at 48 reflects neutral momentum, while the 50 EMA at $1.08229 serves as a resistance, supporting a cautious bearish outlook for the pair.

The EUR/USD pair is trading modestly lower at $1.07811, marking a 0.19% decline. After failing to breach the pivot level at $1.08115, the pair has found resistance, with immediate levels of concern at $1.08558 and higher at $1.08921 and $1.09363.

These levels present potential challenges for any bullish attempts, especially as the market momentum remains muted. The Relative Strength Index (RSI) sits at 48, indicating neutral sentiment, which suggests limited upward movement unless the pair breaks above these resistance points decisively.

On the downside, immediate support lies at $1.07463, with stronger support levels at $1.06982 and $1.06471, which could come into play if selling pressure intensifies. The 50 EMA, positioned at $1.08229, acts as a dynamic resistance that further validates the current bearish stance.

Given the neutral RSI and resistance from the 50 EMA, traders may find selling opportunities below $1.08112, targeting a move towards $1.07455. A stop-loss at $1.08549 could help manage risk in case of an unexpected reversal.

EUR/USD - Trade Ideas

Entry Price – Sell Below 1.08112

Take Profit – 1.07455

Stop Loss – 1.08549

Risk to Reward – 1: 1.5

Profit & Loss Per Standard Lot = +$657/ -$437

Profit & Loss Per Mini Lot = +$65/ -$43