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

Daily Price Outlook

- EUR/USD faces resistance at the 50 EMA near $1.0759.

- RSI at 36 suggests potential for further downside but hints at oversold levels.

- A short position below $1.0811 is favored, targeting $1.0745.

The euro is trading at $1.0712 against the U.S. dollar, marking a slight gain of 0.06% in the last session. The currency pair is consolidating within a narrow range as it faces strong resistance levels while maintaining immediate support. The pivot point at $1.0728 serves as a crucial reference level, reflecting current market sentiment.

Immediate resistance is found at $1.0752, which closely aligns with the 50-day Exponential Moving Average (EMA) at $1.0759. This level acts as a critical threshold for any upside movement. A sustained breach above this resistance could signal further gains, with the next resistance levels situated at $1.0788 and $1.0815.

On the downside, immediate support is positioned at $1.0687, with additional support levels at $1.0655 and $1.0622. If the euro fails to hold these levels, bearish pressure may intensify, targeting further declines toward the lower support zones.

Technical indicators reflect a cautiously bearish outlook. The Relative Strength Index (RSI) is currently at 36, indicating that the euro is approaching oversold territory, though it remains above critical support levels. The 50 EMA at $1.0759 reinforces the resistance, and any failure to break above this level could maintain the bearish trend.

For traders, a potential short position below $1.0811 might be attractive, with a target at $1.0745 and a stop-loss set just above $1.0855. A breakdown below the 50 EMA would reinforce the downtrend.

EUR/USD - Trade Ideas

Entry Price – Sell Below 1.07275

Take Profit – 1.06618

Stop Loss – 1.07712

Risk to Reward – 1: 1.5

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

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