Daily Price Outlook

    The EUR/USD currency pair concluded the previous day's trading session above the 1.0880 level, and as the new day commences, it carries forward an additional bullish inclination. This momentum has prompted a test of the EMA50, which forms a minor resistance point at 1.0915. This development indicates a potential for achieving projected gains within the intraday scope, with an initial target set at 1.0955. It's worth noting that surpassing this level could serve as a catalyst for the price to progress toward the next positive station at 1.1030.

    Given the current trajectory, a continued bullish bias is anticipated for the present trading session. It is essential to highlight that any breach of the 1.0880 level would potentially curtail the projected upward movement, causing the price to revert to a correctional bearish phase. The projected trading range for the day is expected to fall between the support level at 1.0850 and the resistance level at 1.1000.

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

    EUR/USD - Trade Idea

    Entry Price – Buy Above 1.09046

    Take Profit – 1.09330

    Stop Loss – 1.08884

    Risk to Reward – 1: 1.75

    Profit & Loss Per Standard Lot = +$284/ -$162

    Profit & Loss Per Micro Lot = +$28/ -$16



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