Daily Price Outlook

    The EUR/USD pair demonstrates an enhanced bearish tendency, progressively nearing our anticipated target of 1.0515. We project the persistence of this negative trajectory, aiming for further declines towards the 1.0440 zone.

    Within the context of the bearish channel depicted on the chart, and backed by the downward pressure from the EMA50, the bearish outlook remains pertinent for the foreseeable future.

    It's crucial to underscore that maintaining levels below 1.0635 is a primary prerequisite to realize these targets. Today's projected trading band spans from a support at 1.0470 to a resistance at 1.0620, with the prevailing sentiment being bearish.

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

    EUR/USD - Trade Idea 

    Entry Price – Sell Below 1.05736

    Take Profit – 1.05182

    Stop Loss – 1.06115

    Risk to Reward – 1: 1.4

    Profit & Loss Per Standard Lot = +$554/ -$379

    Profit & Loss Per Micro Lot = +$55/ -$37



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