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

Daily Price Outlook

The EUR/USD pair is approaching our target at 1.1275, indicating further upward movement in the short and medium term.
The ongoing ascent is supported by the EMA50, but it is important to hold above 1.1130 to sustain the bullish trend.
Today's projected trading range for the EURUSD pair is between 1.1170 (support) and 1.1320 (resistance), suggesting potential price fluctuations within this range.

The EUR/USD pair is approaching our target at 1.1275, indicating further upward movement in the short and medium term.The ongoing ascent is supported by the EMA50, but it is important to hold above 1.1130 to sustain the bullish trend.Today's projected trading range for the EURUSD pair is between 1.1170 (support) and 1.1320 (resistance), suggesting potential price fluctuations within this range.

The EUR/USD pair is exhibiting further upward movement, nearing our anticipated target at 1.1275. The path appears to be clear for continued ascent and the possibility of achieving additional gains in the short and medium term, with a potential next major milestone at 1.1418.

Hence, we anticipate witnessing additional upward movement in the upcoming sessions, supported by the EMA50. It is important to note that maintaining levels above 1.1130 is crucial for sustaining the bullish wave, as breaking below this level would introduce a negative factor that could initiate a bearish correction on an intraday basis.

The projected trading range for today is expected to fall between the support level at 1.1170 and the resistance level at 1.1320.

Overall, the expected trend for today is bullish.

EUR/USD Price Chart – Source: Tradingview Select an Image

EUR/USD - Trade Idea

Entry Price – Sell Limit 1.12632

Take Profit – 1.11016

Stop Loss – 1.13322

Risk to Reward – 1: 2.3

Profit & Loss Per Standard Lot = +$1616/ -$690

Profit & Loss Per Micro Lot= +$161/ -$69