Daily Price Outlook

    The EUR/USD pair has initiated today with an upward trajectory, distancing itself from the 1.0700 threshold. Current indications from the stochastic oscillator suggest a positive convergence, leading us to anticipate potential gains in the forthcoming sessions. The immediate target is set at 1.0785; a breach of this level could further propel the pair towards the 1.0880 region in the short term.

    It's pivotal to mention that if the pair struggles to surpass 1.0785, it may revert to its primary bearish course. Conversely, a descent below the 1.0700 mark would nullify our projected bullish outlook, inducing a decline. For today's trading, we forecast the EUR/USD to oscillate between a support level of 1.0650 and a resistance at 1.0810.

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

    EUR/USD - Trade Ideas

    Entry Price – Buy Above 1.07225

    Take Profit – 1.07666

    Stop Loss – 1.06871

    Risk to Reward – 1: 1.25

    Profit & Loss Per Standard Lot = +$441/ -$354

    Profit & Loss Per Micro Lot = +$44/ -$35



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