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

Daily Price Outlook

- Resistance Levels: Key hurdles at $1.06071, $1.06457, and $1.06811 for sustained bullish momentum.

- Support Levels: Immediate at $1.05269, followed by $1.04983 and $1.04597.

- Trend Indicators: RSI at 61 supports a bullish bias, while the 50-day EMA at $1.05161 bolsters dynamic support.

EUR/USD is trading at $1.05697, up 0.17% for the session, as the pair shows signs of sustained bullish momentum above the $1.05590 pivot point. Immediate resistance is positioned at $1.06071, aligning with the next key target of $1.06457.

A breakout above these levels could drive further gains toward $1.06811, signaling continued optimism in the euro.

On the downside, immediate support rests at $1.05269, followed by $1.04983 and $1.04597, with the 50-day EMA at $1.05161 providing dynamic support to the pair. A breach below these levels could shift the sentiment bearish, with increased selling pressure likely if $1.04983 fails to hold.

The RSI stands at 61, indicating moderate bullish momentum without nearing overbought territory, which leaves room for additional upside. The price action suggests a favorable outlook for buyers if the pair sustains its position above $1.05590.

Traders may look to enter long positions above $1.05583, targeting $1.06070, while maintaining a stop-loss at $1.05210 for prudent risk management.

EUR/USD - Trade Ideas

Entry Price – Buy Above 1.05583

Take Profit – 1.06070

Stop Loss – 1.05210

Risk to Reward – 1: 1.3

Profit & Loss Per Standard Lot = +$487/ -$373

Profit & Loss Per Mini Lot = +$48/ -$37