Daily Price Outlook

    EUR/USD continues its intriguing journey as it tests the crucial resistance level at 1.0955. Despite its efforts to breach this pivotal point, the pair has managed to hold on below it, keeping the downward trend intact. Traders eagerly await the next move, with potential targets at 1.0880 and 1.0835, making for an exciting market outlook.

    Adding to the intrigue, the Stochastic indicator has lost its positive momentum and entered overbought territory, providing further support for the resumption of the downward trend. However, it's important to keep an eye on potential game-changers – a breakthrough of 1.0955, followed by 1.0990, could effectively thwart the negative scenario and redirect prices towards the main upward trend.

    As we gear up for today's trading, the anticipated range stands between the support level of 1.0850 and the resistance level of 1.1000. The excitement builds as we navigate the potential twists and turns of the market!

    EUR/USD Price Chart – Source: Tradingview
    EUR/USD Price Chart – Source: Tradingview

    EUR/USD - Trade Idea

    Entry Price – Sell Below 1.09585

    Take Profit – 1.08750

    Stop Loss – 1.09999

    Risk to Reward – 1: 2

    Profit & Loss Per Standard Lot = +$835/ -$414

    Profit & Loss Per Micro Lot = +$83/ -$41



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