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

Daily Price Outlook

- Pivot Point at $1.05203: A key barrier; breakout needed to target $1.05625.

- Support at $1.04378: A breach may accelerate declines to $1.03854.

- RSI at 49: Neutral, with potential for oversold bounce or further bearish action.

EUR/USD is trading at $1.04850, down 0.03%, as the pair struggles to hold above key technical levels. On the 4-hour chart, the pivot point at $1.05203 serves as a significant hurdle, with immediate resistance at $1.05625 and further resistance at $1.06071.

A break above these levels could indicate a reversal of the recent bearish sentiment and open the door for further gains.

On the downside, immediate support lies at $1.04378, with additional levels at $1.03854 and $1.03489. The pair is currently hovering near its 50 EMA, which sits at $1.04776. This level is providing short-term support, but a sustained break below it could reinforce bearish momentum.

The RSI is at 49, reflecting a neutral bias but leaning slightly toward oversold territory. This suggests that while the pair is under pressure, it may find temporary relief if buyers step in near current support levels.

The outlook for EUR/USD depends heavily on its ability to regain traction above the $1.05203 pivot point. A failure to break this level could see the pair retest support at $1.04378, potentially triggering further declines. Conversely, a move above $1.05625 would indicate bullish momentum, shifting the focus toward higher resistance levels.

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