Daily Price Outlook

    The EUR/USD pair decisively breached the 1.0880 threshold, closing below it yesterday, signaling a return to its prevailing bearish trajectory visible on the chart. In forthcoming sessions, the pair appears poised to further descend, potentially testing the 1.0785 marker. A break beneath this level could set the stage for a deeper decline, targeting 1.0700.

    Today's outlook is predominantly bearish, further reinforced by the downward pressure exerted by the EMA50. However, it's pertinent to highlight that any move above 1.0880 could neutralize this bearish outlook, potentially paving the way for recovery efforts. The trading range for today is anticipated to span from a support at 1.0750 to a resistance at 1.0900.

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

    GOLD(XAU/USD) - Trade Idea

    Entry Price – Buy Limit 1.08349

    Take Profit – 1.08773

    Stop Loss – 1.07954

    Risk to Reward – 1: 1

    Profit & Loss Per Standard Lot = +$424/ -$395

    Profit & Loss Per Micro Lot = +$42/ -$39



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