Daily Price Outlook

    The EUR/USD pair has successfully breached the 1.0955 mark, sealing the daily candlestick beneath it, thus strengthening the anticipation of an extended bearish trajectory in the intraday context, with a subsequent objective set at 1.0880.

    The persistent influence of the double top formation is anticipated to exert additional downward pressure, potentially leading the pair to exceed the previously mentioned target, setting its sights on 1.0785 as the subsequent bearish milestone.

    Given the adverse momentum steered by the EMA50, a continued bearish sentiment is forecasted in ensuing sessions. It's pivotal to note that for this bearish momentum to persist, the pair should remain below 1.1030.

    Today's trading spectrum is delineated with a support at 1.0840 and resistance positioned at 1.1000.

    A bullish sentiment will prevail above 1.09249, whereas a stance below this figure leans towards bearishness.

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

    EUR/USD - Trade Idea

    Entry Price – Buy Above 1.09228

    Take Profit – 1.09679

    Stop Loss – 1.08965

    Risk to Reward – 1: 1.7

    Profit & Loss Per Standard Lot = +$451/ -$263

    Profit & Loss Per Micro Lot = +$45/ -$26



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