EUR/USD Price Analysis and Trade Forecast: Daily Trading Signal
Daily Price Outlook
- EUR/USD remains bullish above $1.03963, with key resistance at $1.04518.
- 50-day EMA at $1.04552 is a key hurdle for further upside momentum.
- Buy entry above $1.03958, target $1.04523, stop-loss at $1.03575.
The EUR/USD pair is trading at $1.04126, showing minor losses as the dollar holds firm amid economic uncertainty. The pair remains below the pivot point at $1.03963, signaling a neutral to slightly bullish bias in the short term.
Immediate resistance is seen at $1.04518, followed by $1.04837 and $1.05279. A break above $1.04518 could strengthen bullish momentum, with traders eyeing the 50-day EMA at $1.04552 as a key level for further gains. However, failure to clear this resistance may trigger renewed selling pressure.
On the downside, immediate support is at $1.03451, with stronger levels at $1.03163 and $1.02824. If the pair falls below $1.03451, sellers could push the price lower, testing the $1.03163 level, which aligns with previous market structure.
Technically, the 50-day EMA at $1.04552 remains a critical barrier for the bulls. A buy entry above $1.03958 could target $1.04523, with a stop-loss at $1.03575 to manage downside risks. A breakout above $1.04518 would strengthen the case for further gains, while a move below $1.03451 could accelerate selling pressure.
EUR/USD - Trade Ideas
Entry Price – Buy Above 1.03958
Take Profit – 1.04523
Stop Loss – 1.03575
Risk to Reward – 1: 1.4
Profit & Loss Per Standard Lot = +$565/ -$383
Profit & Loss Per Mini Lot = +$56/ -$38
EUR/USD Price Analysis – March 03, 2025
Daily Price Outlook
During the European trading session, the EUR/USD currency pair broke its three-day losing streak and edged higher around 1.0440 level.
However, the recovery in the Euro was driven by a weaker US dollar following the release of January’s Personal Consumption Expenditures (PCE) inflation data, which met expectations and alleviated concerns about unexpected inflation spikes in the United States. On the other hand, the Euro gained strength, supported by stronger-than-expected Eurozone inflation data.
Eurozone Inflation Data Supports EUR, But ECB's Easing Policy Limits Strength
On the data front, the Harmonized Index of Consumer Prices (HICP) rose 2.4% year-on-year (YoY) in February, a small decrease from January’s 2.5%. This was still a bit higher than the 2.3% that markets had expected. The core HICP, which excludes food and energy prices, increased by 2.6% YoY, matching market expectations but slightly down from 2.7% in January.
On a monthly basis, the HICP climbed by 0.5% in February, a bounce back from the 0.3% drop seen in January. Similarly, core HICP inflation grew 0.6% month-over-month, reversing January’s 0.9% decline. This increase in monthly inflation suggests that price pressures in the Eurozone are still present, even if overall inflation is cooling slightly.
However, the European Central Bank (ECB) has a target inflation rate of 2.0%, and this inflation data could impact future decisions on interest rates. Although the inflation numbers were higher than expected, the ECB is still likely to continue its policy of easing in its upcoming meeting.
US Dollar Weakens Despite Rising Yields and Trade Tensions, Boosting EUR/USD Outlook
On the US front, the broad-based US dollar has weakened after three consecutive days of gains, trading around 107.30 on the US Dollar Index (DXY).
However, the downside for the Greenback could be limited as US Treasury yields are improving, with the 2-year yield at 4.02% and the 10-year yield at 4.24%. These rising yields suggest that the USD could still find support in the near term.
On the data front, the release of the January Personal Consumption Expenditures (PCE) inflation report provided a boost to the EUR/USD pair.
The data came in line with expectations, easing concerns over unexpected inflation spikes in the US. The headline PCE remained steady at 0.3% month-over-month, while the core PCE rose slightly to 0.3%, up from 0.2% in December.
On an annual basis, the headline PCE was 2.6%, just above forecasts, but unchanged from December's reading. Overall, the report helped ease inflation worries, which in turn supported the EUR/USD recovery.
Looking forward, the rising US-China trade tensions could offer support to the USD, as investors often turn to the Greenback during times of uncertainty.
US President Trump announced new tariffs on Chinese imports, starting this Tuesday, and also mentioned 25% tariffs on goods from Canada and Mexico set to take effect on March 4. This could cap EUR/USD gains as the USD strengthens due to safe-haven flows amid escalating trade tensions. (edited)
EUR/USD – Technical Analysis
The EUR/USD pair is trading at $1.04126, showing minor losses as the dollar holds firm amid economic uncertainty. The pair remains below the pivot point at $1.03963, signaling a neutral to slightly bullish bias in the short term.
Immediate resistance is seen at $1.04518, followed by $1.04837 and $1.05279. A break above $1.04518 could strengthen bullish momentum, with traders eyeing the 50-day EMA at $1.04552 as a key level for further gains. However, failure to clear this resistance may trigger renewed selling pressure.
On the downside, immediate support is at $1.03451, with stronger levels at $1.03163 and $1.02824. If the pair falls below $1.03451, sellers could push the price lower, testing the $1.03163 level, which aligns with previous market structure.
Technically, the 50-day EMA at $1.04552 remains a critical barrier for the bulls. A buy entry above $1.03958 could target $1.04523, with a stop-loss at $1.03575 to manage downside risks. A breakout above $1.04518 would strengthen the case for further gains, while a move below $1.03451 could accelerate selling pressure.
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EUR/USD Price Analysis and Trade Forecast: Daily Trading Signal
Daily Price Outlook
- Bearish Momentum: EUR/USD remains bearish below the 50 EMA at $1.04681 and the Pivot Point at $1.03805.
- Support Levels: Key supports at $1.03556, $1.03326, and $1.03099.
- Resistance Levels: Immediate resistance at $1.04063, followed by $1.04223 and $1.04476.
EUR/USD is trading at $1.03842, down 0.02%, reflecting a cautious market sentiment as it hovers slightly above the Pivot Point at $1.03805.
The currency pair faces immediate resistance at $1.04063, followed by stronger barriers at $1.04223 and $1.04476. These resistance levels coincide with the 50-day Exponential Moving Average (EMA) at $1.04681, suggesting continued selling pressure unless the pair breaks above this level.
On the downside, immediate support is observed at $1.03556, with further cushions at $1.03326 and $1.03099.
A break below $1.03556 could accelerate the bearish trend, pushing EUR/USD towards the lower support zones.
Conversely, a sustained move above $1.03805 could challenge the $1.04063 resistance level, potentially shifting momentum towards the bulls.
The technical setup indicates a bearish bias as long as EUR/USD trades below the 50 EMA and the Pivot Point. The 4-hour chart shows a descending trendline, reinforcing selling interest. If the price fails to reclaim the $1.03805 level, it is likely to face continued downward pressure.
For now, the recommended strategy is to Buy Above $1.03810, with a Take Profit at $1.04223 and a Stop Loss at $1.03553.
Traders should watch for price action around $1.03805, as a break above this level could invalidate the bearish outlook and trigger a short-term recovery.
EUR/USD - Trade Ideas
Entry Price – Buy Above 1.03810
Take Profit – 1.04223
Stop Loss – 1.03553
Risk to Reward – 1: 1.3
Profit & Loss Per Standard Lot = +$426/ -$257
Profit & Loss Per Mini Lot = +$42/ -$25
EUR/USD Price Analysis – Feb 28, 2025
Daily Price Outlook
During the early European session on Friday, EUR/USD remained under selling pressure, trading near 1.0390. Despite upbeat German Retail Sales data, the Euro failed to gain support and weakened against the US Dollar.
However, the pair’s decline was mainly driven by a stronger US dollar and ongoing risk-off sentiment in the market.
Stronger US Dollar and Risk-Off Market Sentiment Weigh on EUR/USD
On the US front, the broad-based US Dollar remains strong amid growing concerns over global trade tensions and previously released upbeat US data.
However, Former US President Donald Trump announced on Thursday that 25% tariffs on imports from Canada and Mexico will take effect on March 4. In the meantime, the goods from China will face an additional 10% tariff.
This aggressive stance on tariffs has fueled uncertainty, putting downward pressure on risk-sensitive currencies like the Euro.
On the flip side, the Federal Reserve’s cautious stance on interest rates supports the Greenback. Cleveland Fed President Beth Hammack and Atlanta Fed President Raphael Bostic have both indicated that the US central bank is likely to keep rates on hold for now.
Investors are closely watching the upcoming US Personal Consumption Expenditures (PCE) Price Index report, which could impact Fed policy expectations. Currently, markets anticipate a 68% chance of a rate cut in June, but uncertainty remains high.
EUR Struggles Despite Strong German Retail Sales Amid US Tariff Threats and Fed Caution
On the economic data front, Germany’s Retail Sales data showed a 0.2% month-on-month (MoM) rebound in January, beating the market expectation of 0%. On an annual basis, sales increased by 2.9%, up from 1.8% in December.
However, this positive data failed to provide support for the Euro, as broader market sentiment and USD strength overshadowed the upbeat figures.
Meanwhile, the European economy remains vulnerable amid concerns over US-EU trade relations. Trump’s recent comments about imposing a 25% tariff on European goods add to the pressure on the shared currency.
Therefore, the ongoing geopolitical uncertainties and risk-averse mood in financial markets are limiting the Euro’s possibility for recovery against the USD.
Investors now turn their attention to the US PCE inflation data set to be released later on Friday. Any signs of cooling inflation could weaken the USD, providing some relief for EUR/USD.
However, if inflation remains stubbornly high, it may reinforce the Fed’s cautious stance, keeping the Greenback strong.
EUR/USD – Technical Analysis
EUR/USD is trading at $1.03842, down 0.02%, reflecting a cautious market sentiment as it hovers slightly above the Pivot Point at $1.03805.
The currency pair faces immediate resistance at $1.04063, followed by stronger barriers at $1.04223 and $1.04476. These resistance levels coincide with the 50-day Exponential Moving Average (EMA) at $1.04681, suggesting continued selling pressure unless the pair breaks above this level.
On the downside, immediate support is observed at $1.03556, with further cushions at $1.03326 and $1.03099.
A break below $1.03556 could accelerate the bearish trend, pushing EUR/USD towards the lower support zones.
Conversely, a sustained move above $1.03805 could challenge the $1.04063 resistance level, potentially shifting momentum towards the bulls.
The technical setup indicates a bearish bias as long as EUR/USD trades below the 50 EMA and the Pivot Point. The 4-hour chart shows a descending trendline, reinforcing selling interest. If the price fails to reclaim the $1.03805 level, it is likely to face continued downward pressure.
For now, the recommended strategy is to Buy Above $1.03810, with a Take Profit at $1.04223 and a Stop Loss at $1.03553.
Traders should watch for price action around $1.03805, as a break above this level could invalidate the bearish outlook and trigger a short-term recovery.
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EUR/USD Price Analysis and Trade Forecast: Daily Trading Signal
Daily Price Outlook
- Bullish Above $1.04780: Holding above the pivot targets $1.05290 and $1.05673, signaling continued upward momentum.
- Bearish Below $1.04780: A breakdown could see declines towards $1.04505 and $1.04075, signaling a potential bearish reversal.
- Technical Setup: 50 EMA at $1.04709 acts as dynamic support, reinforcing short-term bullish sentiment.
EUR/USD is trading at $1.04972, down 0.01%, reflecting cautious sentiment as it hovers just above the pivot point at $1.04780. The pair is trading above the 50 EMA at $1.04709, signaling short-term bullish momentum.
If the price holds above this pivot, the next target is immediate resistance at $1.05290. A break above this level could push prices towards $1.05673, with a more ambitious move towards $1.06076 if buying pressure continues.
On the downside, if EUR/USD breaks below the pivot at $1.04780, it would shift sentiment to bearish, targeting immediate support at $1.04505.
A further decline could see the pair testing $1.04075, with a deeper drop towards $1.03556 if selling intensifies. The 50 EMA at $1.04709 acts as dynamic support, and a break below this level would confirm a bearish reversal.
The technical outlook suggests a cautious buy above the pivot at $1.04785, targeting $1.05475 with a stop loss at $1.04402.
This setup aligns with the short-term bullish bias while maintaining a favorable risk-reward ratio. Traders should watch for volume confirmation and price action around the $1.05290 resistance to validate the bullish momentum.
Conversely, a break below $1.04780 would invalidate the bullish setup and shift sentiment to bearish, likely driving prices towards $1.04505 and beyond.
EUR/USD - Trade Ideas
Entry Price – Buy Above 1.04785
Take Profit – 1.05475
Stop Loss – 1.04402
Risk to Reward – 1: 1.8
Profit & Loss Per Standard Lot = +$690/ -$383
Profit & Loss Per Mini Lot = +$69/ -$38
EUR/USD Price Analysis – Feb 26, 2025
Daily Price Outlook
EUR/USD continues to face selling pressure above 1.0490 in Wednesday’s European session. However, the currency pair is falling due to a strong recovery in the US Dollar (USD).
The US Dollar Index (DXY), which tracks the Greenback’s value against six major currencies, rebounded sharply to near 106.50 after dipping to an 11-week low of 106.10 earlier in the day.
US Dollar Gains on Rising Treasury Yields and PCE Inflation Data
On the US front, the broad-based US dollar recovered due to the strong recovery in US bond yields, which had been declining for almost a month. The 10-year US Treasury yields surged to near 4.33% after hitting a fresh 13-week low of around 4.28% earlier in the day.
The House approved Donald Trump's $4.5 trillion tax cut plan, causing traders to sell US government bonds. They expect lower taxes to boost spending, leading to higher inflation.
This could force the Federal Reserve to keep interest rates high for longer, strengthening the US dollar and putting pressure on the EUR/USD pair.
Investors await the US Personal Consumption Expenditures Price Index (PCE) data for January, scheduled for release on Friday, to gain fresh insights into inflation trends.
Meanwhile, the core PCE inflation data, the Fed’s preferred measure as it excludes volatile food and energy prices, is estimated to have slowed to 2.6% year-over-year from 2.8% in December. Softer inflation data could weigh on expectations that the Fed will delay rate cuts.
Euro Struggles Amid ECB Policy Outlook
On the other hand, the EUR/USD is under pressure as investors favor the US Dollar over the Euro (EUR). However, the shared currency is outperforming as traders shift focus to the upcoming European Central Bank (ECB) policy meeting next week.
It should be noted that the ECB is widely expected to cut its Deposit Facility rate by 25 basis points (bps) to 2.5%. Investors will closely monitor the ECB’s monetary policy guidance.
Several ECB officials have indicated that the central bank should continue reducing interest rates, given expectations that inflation will sustainably return to the 2% target.
Moreover, the Soft Eurozone Q4 Negotiated Wage Rate data, a key wage growth measure, has reinforced expectations of ECB rate cuts. On Tuesday, the ECB reported that the wage growth measure increased at a slower pace of 4.12%, compared to a 5.43% rise in the previous quarter.
However, ECB board member Isabel Schnabel criticized dovish bets, arguing that Eurozone economic weakness is “not due to overly high borrowing costs” but rather to “structural factors.” She suggested that the current 2.75% rate may no longer be restrictive for the eurozone economy.
Looking ahead, investors will monitor the German flash Harmonized Index of Consumer Prices (HICP) data for February, set for release on Friday, for further cues on inflation and ECB policy direction.
EUR/USD – Technical Analysis
EUR/USD is trading at $1.04972, down 0.01%, reflecting cautious sentiment as it hovers just above the pivot point at $1.04780. The pair is trading above the 50 EMA at $1.04709, signaling short-term bullish momentum.
If the price holds above this pivot, the next target is immediate resistance at $1.05290. A break above this level could push prices towards $1.05673, with a more ambitious move towards $1.06076 if buying pressure continues.
On the downside, if EUR/USD breaks below the pivot at $1.04780, it would shift sentiment to bearish, targeting immediate support at $1.04505.
A further decline could see the pair testing $1.04075, with a deeper drop towards $1.03556 if selling intensifies. The 50 EMA at $1.04709 acts as dynamic support, and a break below this level would confirm a bearish reversal.
The technical outlook suggests a cautious buy above the pivot at $1.04785, targeting $1.05475 with a stop loss at $1.04402.
This setup aligns with the short-term bullish bias while maintaining a favorable risk-reward ratio. Traders should watch for volume confirmation and price action around the $1.05290 resistance to validate the bullish momentum.
Conversely, a break below $1.04780 would invalidate the bullish setup and shift sentiment to bearish, likely driving prices towards $1.04505 and beyond.
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EUR/USD Price Analysis – Feb 24, 2025
Daily Price Outlook
During the European trading session, the EUR/USD currency pair continued its upward trend and stayed strong around the 1.0471 level, reaching an intra-day high of 1.0528. This shows that the Euro was performing well earlier in the day, attracting buyers. However, as the session progressed, the pair lost some of its gains due to weakness in the Euro.
The Euro weakened following the German federal election results, where no single party secured a clear majority. This political uncertainty added pressure to the Euro, as it could slow down economic growth in Germany, which is the largest economy in the Eurozone. Investors became cautious, leading to a partial pullback in the EUR/USD pair.
Despite the Euro's weakness, the downside in the EUR/USD pair remained limited due to a weaker US Dollar. Investors overlooked disappointing US flash S&P Global PMI data for February, keeping the dollar under pressure. As a result, the EUR/USD pair maintained some of its earlier gains, preventing a sharper decline.
US Dollar Weakens on Soft PMI Data and Fed Rate Cut Bets, but Trade Risks Persist
On the US front, the broad-based US Dollar lost momentum as weak economic data raised expectations of Federal Reserve (Fed) rate cuts.
The latest S&P Global PMI report showed that private business activity in the US grew at a much slower pace in February.
The Composite PMI, which tracks both manufacturing and services, dropped to 50.4, the lowest level since September 2023. The decline was mainly driven by weaker services sector activity, which fell to 49.7 from 52.9 in January.
This drop was unexpected and was linked to political uncertainty over federal spending cuts and their potential impact on economic growth and inflation. However, the manufacturing sector performed better, with the Manufacturing PMI rising to 51.6, exceeding expectations.
The weak PMI data strengthened market bets that the Fed will cut interest rates in June, pushing the probability to 63.5% from 50% last week.
However, some support for the Dollar came from concerns over a global slowdown due to former US President Donald Trump's tariff threats. He has warned of imposing tariffs on products like lumber, semiconductors, pharmaceuticals, and automobiles, which could impact global trade.
Therefore, the weak US PMI data and rising Fed rate cut bets support the EUR/USD pair by weakening the Dollar. However, Trump's tariff threats limit gains, creating mixed sentiment and potential volatility in the pair.
EUR Weakens Amid German Election Uncertainty and ECB Rate Cut Signals
On the EUR front, the shared currency weakened following the German federal election, as no single party secured a clear majority. Friedrich Merz, leader of the Christian Democratic Union (CDU), is set to become Germany’s Chancellor but faces tough negotiations to form a coalition government, likely with the Social Democratic Party (SPD).
Analysts at ING believe the new government may only bring short-term economic benefits, such as minor tax cuts and small reforms. Adding to the Euro's weakness, the European Central Bank (ECB) remains focused on policy easing.
ECB policymaker François Villeroy de Galhau recently stated that the central bank could cut its deposit rate to 2% by summer, reinforcing expectations of lower interest rates.
EUR/USD – Technical Analysis
EUR/USD is trading at $1.04827, showing slight downward movement but maintaining support above the pivot point at $1.04553. This level is crucial as it aligns closely with the 50 EMA at $1.04518, providing a key support zone.
The technical outlook remains cautiously bullish above this level. If EUR/USD can break above the immediate resistance at $1.05290, it may target the next resistance at $1.05673, with a potential extension to $1.06076.
However, if prices fall below the pivot point, the first support is at $1.04075, followed by $1.03556 and $1.03157. A break below the 50 EMA could signal a bearish shift, increasing selling pressure. The overall outlook remains bullish as long as EUR/USD trades above $1.04553 and the 50 EMA, but a breakdown below these levels could signal a bearish reversal.
Traders should watch for a decisive breakout above $1.05290 for bullish continuation, while a drop below $1.04553 may indicate a bearish pullback.
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EUR/USD Price Analysis and Trade Forecast: Daily Trading Signal
Daily Price Outlook
- Cautious Bullish Momentum: EUR/USD remains cautiously bullish above the pivot point at $1.04553 and the 50 EMA at $1.04518.
- Critical Resistance Levels: Watch for a breakout above $1.05290 to target $1.05673 and $1.06076.
- Support Levels: Key support at $1.04075 and $1.03556; a break below could signal a bearish reversal.
EUR/USD is trading at $1.04827, showing slight downward movement but maintaining support above the pivot point at $1.04553. This level is crucial as it aligns closely with the 50 EMA at $1.04518, providing a key support zone.
The technical outlook remains cautiously bullish above this level. If EUR/USD can break above the immediate resistance at $1.05290, it may target the next resistance at $1.05673, with a potential extension to $1.06076.
However, if prices fall below the pivot point, the first support is at $1.04075, followed by $1.03556 and $1.03157. A break below the 50 EMA could signal a bearish shift, increasing selling pressure. The overall outlook remains bullish as long as EUR/USD trades above $1.04553 and the 50 EMA, but a breakdown below these levels could signal a bearish reversal.
Traders should watch for a decisive breakout above $1.05290 for bullish continuation, while a drop below $1.04553 may indicate a bearish pullback.
EUR/USD - Trade Ideas
Entry Price – Buy Above 1.04549
Take Profit – 1.05296
Stop Loss – 1.04153
Risk to Reward – 1: 1.8
Profit & Loss Per Standard Lot = +$747/ -$396
Profit & Loss Per Mini Lot = +$74/ -$39
EUR/USD Price Analysis – Feb 21, 2025
Daily Price Outlook
During Friday’s European session, the EUR/USD currency pair slipped to the 1.0470 level, facing renewed selling pressure after the release of the latest Eurozone PMI data.
The Hamburg Commercial Bank's (HCOB) preliminary Purchasing Managers Index (PMI) report for February indicated that overall business activity in the Eurozone expanded at a slower-than-expected pace, weighing on the Euro.
In the meantime, the Composite PMI stood at 50.2, slightly below the anticipated 50.5 reading. While the services sector showed growth, its expansion pace was weaker than the previous release.
Meanwhile, the manufacturing sector continued to struggle, though the rate of contraction slowed. HCOB’s Chief Economist, Dr. Cyrus de la Rubia, commented that economic output in the Eurozone remains stagnant, with sluggish manufacturing only marginally compensated by weak services growth.
Furthermore, the political uncertainties in France and concerns over US trade policies added to the Euro’s woes.
Apart from this, the European Central Bank (ECB) is unlikely to find comfort in the PMI data, as steady growth alone is insufficient to ease concerns about the region’s economic trajectory. Market participants have fully priced in three rate cuts from the ECB this year, following the central bank’s recent 25 basis point reduction in the Deposit Facility rate to 2.75%.
US Dollar Strength and Market Movers Impacting EUR/USD
On the other hand, the EUR/USD pair is also under pressure as the US Dollar (USD) regains momentum. The US Dollar Index (DXY) climbed from 106.30 to 106.65, erasing some of its earlier losses.
However, the losses in US dollar was driven by improved market sentiment as investors reassessed former US President Donald Trump’s trade policies.
While Trump had previously imposed tariffs on steel, aluminum, and Chinese imports, market participants believe his tariff strategy may not be as aggressive as initially feared.
Moreover, European Union trade chief Maros Sefcovic revealed that the US has shown some openness to negotiating tariff reductions. These developments have offered temporary relief to global trade partners, reducing the potential for economic disruptions.
Meanwhile, growing hopes for a Russia-Ukraine truce have also pressured the US Dollar, as Trump has signaled a willingness to engage in further negotiations to end the war, with potential sanctions relief for Russia in return.
On the monetary policy front, the Federal Reserve (Fed) remains cautious about inflation risks, particularly in light of Trump’s economic policies. Fed officials continue to maintain a restrictive stance, reinforcing the USD’s resilience.
Investors now await the release of the US S&P Global PMI data for February, due at 14:45 GMT, which could provide further direction for the EUR/USD pair.
EUR/USD – Technical Analysis
EUR/USD is currently trading at $1.04959, showing minimal movement but maintaining a slightly bearish stance. The pair is hovering just above the key pivot point at $1.04663, which is a crucial support level to watch.
As long as prices stay above this pivot, a bullish reversal is possible, with immediate resistance at $1.05205.
A break above this resistance could propel the pair towards the next targets at $1.05563 and $1.05920, indicating potential upward momentum.
On the downside, if EUR/USD drops below the pivot point at $1.04663, bearish sentiment is likely to strengthen.
The first support to watch is at $1.04003, followed by $1.03565 and $1.03162, marking key retracement zones.
These levels could attract buying interest, but a break below them would confirm a bearish continuation.
The 50-Day Exponential Moving Average (EMA) at $1.04305 is currently acting as dynamic support, reinforcing the potential for a bullish rebound. However, if the price falls below the 50 EMA, it could signal further downside risk.
The technical outlook suggests a strategic entry point to buy above $1.04663, targeting a take profit at $1.05434 and setting a stop loss at $1.04149 to manage risk effectively.
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EUR/USD Price Analysis and Trade Forecast: Daily Trading Signal
Daily Price Outlook
- Bullish Potential Above Pivot: EUR/USD remains bullish above the $1.04663 pivot, with resistance at $1.05205 and $1.05563 in focus.
- Bearish Risk Below Support: A break below $1.04663 could push prices towards $1.04003 and $1.03565 support levels.
- Strategic Entry Point: Buy above $1.04663, with a take profit at $1.05434 and a stop loss at $1.04149 for effective risk management.
EUR/USD is currently trading at $1.04959, showing minimal movement but maintaining a slightly bearish stance. The pair is hovering just above the key pivot point at $1.04663, which is a crucial support level to watch.
As long as prices stay above this pivot, a bullish reversal is possible, with immediate resistance at $1.05205.
A break above this resistance could propel the pair towards the next targets at $1.05563 and $1.05920, indicating potential upward momentum.
On the downside, if EUR/USD drops below the pivot point at $1.04663, bearish sentiment is likely to strengthen.
The first support to watch is at $1.04003, followed by $1.03565 and $1.03162, marking key retracement zones.
These levels could attract buying interest, but a break below them would confirm a bearish continuation.
The 50-Day Exponential Moving Average (EMA) at $1.04305 is currently acting as dynamic support, reinforcing the potential for a bullish rebound. However, if the price falls below the 50 EMA, it could signal further downside risk.
The technical outlook suggests a strategic entry point to buy above $1.04663, targeting a take profit at $1.05434 and setting a stop loss at $1.04149 to manage risk effectively.
EUR/USD - Trade Ideas
Entry Price – Buy Above 1.04663
Take Profit – 1.05434
Stop Loss – 1.04149
Risk to Reward – 1: 1.5
Profit & Loss Per Standard Lot = +$771/ -$514
Profit & Loss Per Mini Lot = +$77/ -$51