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

Daily Price Outlook

- EUR/USD remains under pressure, trading below the pivot point at 1.04042.

- Immediate resistance at 1.04480, with support at 1.03430.

- RSI at 44 signals bearish momentum, with no clear reversal yet.

The EUR/USD is trading at 1.03912, showing a slight decline of 0.13% as it continues to face downward pressure. The pair is holding just below the critical pivot point at 1.04042, with immediate resistance at 1.04480, followed by 1.04973 and 1.05649.

These resistance levels are key for any potential bullish reversal, but the current trend remains bearish as the price is unable to break above the pivot point.

On the downside, immediate support is found at 1.03430, with further support levels at 1.03033 and 1.02722. The 50-day Exponential Moving Average (EMA) at 1.03957 is in close proximity, adding to the consolidation near the current price.

The RSI is at 44, indicating bearish momentum, with no signs of oversold conditions yet, suggesting that the price could continue its downward trajectory if it fails to hold above the support levels.

The market remains cautious, with volatility driven by economic data and geopolitical events. If EUR/USD fails to break above 1.04042, further downside could lead to a retest of the lower support levels.

However, a break above the immediate resistance at 1.04480 could shift the market sentiment, but this seems unlikely unless there is a significant shift in the underlying fundamentals.

EUR/USD - Trade Ideas

Entry Price – Sell Limit 1.04041

Take Profit – 1.03412

Stop Loss – 1.04361

Risk to Reward – 1: 1.9

Profit & Loss Per Standard Lot = +$629/ -$320

Profit & Loss Per Mini Lot = +$62/ -$32