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

Daily Price Outlook

- Bearish Bias: Trading below the pivot point and 50-day EMA at $1.05494 reinforces downside risks.

- Support Levels: Immediate support at $1.04516, with potential declines toward $1.04300 if breached.

- Weak Momentum: RSI at 38 indicates subdued buying interest, leaning toward oversold territory.

EUR/USD is trading at $1.04841, marking a modest gain of 0.10%, as the pair consolidates near critical support levels. Immediate resistance lies at $1.05129, with higher targets at $1.05767 and $1.06083. On the downside, immediate support is set at $1.04516, followed by $1.04300 and $1.03999, signaling the potential for bearish pressure if the pair breaches key levels.

The pivot point at $1.05548 serves as a key marker for directional bias. Currently, the pair trades below the 50-day EMA at $1.05494, indicating a bearish trend in the short term. The RSI at 38 suggests weak momentum, leaning toward oversold conditions but not yet signaling a reversal.

Traders are advised to consider selling below $1.05122, targeting $1.04501 with a stop-loss at $1.05629. A break below $1.04516 could lead to further declines toward $1.04300, while a recovery above $1.05129 would challenge bearish dominance and open the path to $1.05767.

EUR/USD - Trade Ideas

Entry Price – Sell Below 1.05122

Take Profit – 1.04501

Stop Loss – 1.05629

Risk to Reward – 1: 1.2

Profit & Loss Per Standard Lot = +$621/ -$507

Profit & Loss Per Mini Lot = +$62/ -$50