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

Daily Price Outlook

- Resistance Levels: $1.04901, $1.05625, $1.06071.

- Support Levels: $1.03854, $1.03489.

- Momentum Indicators: RSI at 50 reflects neutral conditions, leaving room for further directional moves.

The EUR/USD pair is trading at $1.04778, down 0.61%, as the dollar strengthens amid broader risk-off sentiment. The pair is holding below the pivot point at $1.05203, signaling further bearish potential. Immediate resistance stands at $1.04901, with key levels at $1.05625 and $1.06071 likely to act as significant barriers if the euro attempts a rebound.

On the downside, immediate support is at $1.03854, followed by stronger levels at $1.03489. A decisive break below $1.03854 could expose EUR/USD to further declines, potentially testing the $1.03400 area. The 50 EMA at $1.05197 is adding to selling pressure, reinforcing the bearish structure.

The RSI at 50 indicates neutral momentum, providing room for further moves in either direction. Traders are closely watching the $1.04893 entry point for potential short positions, with a target of $1.04366 and a stop loss at $1.05209.

EUR/USD - Trade Ideas

Entry Price – Sell Below 1.04893

Take Profit – 1.04366

Stop Loss – 1.05209

Risk to Reward – 1: 1.6

Profit & Loss Per Standard Lot = +$527/ -$316

Profit & Loss Per Mini Lot = +$52/ -$31