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

Daily Price Outlook

- EUR/USD remains cautiously bullish above the pivot at $1.05761, with an RSI of 47 showing moderate momentum.

- Immediate resistance at $1.06023 aligns with the 50-day EMA, forming a critical test for further upside.

- Support at $1.05397 is key for maintaining the bullish bias, while a drop below could shift sentiment downward.

EUR/USD is trading at $1.05567, up 0.27%, as it edges closer to its pivot point at $1.05761, signaling cautious optimism among traders. With an RSI of 47, the pair remains below the neutral 50 level, reflecting subdued momentum. Immediate resistance sits at $1.06023, closely followed by the 50-day EMA at $1.05977.

This proximity suggests that a break above $1.05761 could encourage buyers, potentially pushing EUR/USD toward higher resistance at $1.06312, with a further target at $1.06628 if bullish momentum builds.

On the downside, immediate support is found at $1.05397, and a drop below this level could trigger further declines toward $1.05113, with an additional safety net at $1.04867.

The technical setup suggests a mild bullish sentiment if EUR/USD maintains its position above $1.05397, though a stronger rally requires a clear move past the pivot and resistance levels.

The entry strategy indicates a buy limit at $1.05391, with a target of $1.05771, capitalizing on upward potential near the pivot. However, the stop loss at $1.05119 serves as a safeguard against unexpected reversals, particularly if the pair loses traction near support.

Given the close alignment of key levels, EUR/USD’s outlook leans cautiously bullish, but traders should watch the 50-day EMA closely, as it may act as a pivotal resistance.

EUR/USD - Trade Ideas

Entry Price – Buy Limit 1.05391

Take Profit – 1.05771

Stop Loss – 1.05119

Risk to Reward – 1: 1.4

Profit & Loss Per Standard Lot = +$380/ -$272

Profit & Loss Per Mini Lot = +$38/ -$27