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

Daily Price Outlook

The EUR/USD pair currently displays a modest bullish inclination, influenced by the positive momentum indicated by the stochastic. This could lead to interim intraday appreciations before resuming a downward trajectory.

At present, the predominant bearish trend remains intact, exemplified by the descending channel visible on the chart and augmented by the downward pressure from the EMA50. We anticipate that a breach of the 1.0700 mark would pave the way for an ascent towards 1.0635.

Conversely, it's imperative to highlight that surpassing the 1.0785, followed by the 1.0825 thresholds, would disrupt the bearish narrative, prompting the price to embark on short-term recovery efforts. Today's trading is anticipated to oscillate between a support at 1.0640 and a resistance at 1.0790, with the dominant sentiment leaning bearish.

EUR/USD - Trade Idea

Entry Price – Buy Above 1.07202

Take Profit – 1.07668

Stop Loss – 1.06810

Risk to Reward – 1: 1.9

Profit & Loss Per Standard Lot = +$466/ -$46

Profit & Loss Per Micro Lot = +$46-$39