Daily Price Outlook

- EUR/USD trades at 1.10447, showing a slight increase of 0.02%.

- RSI at 66 and price above 50 EMA suggest a short-term bullish trend for EUR/USD.

- Upward trendline supports the continued bullish momentum in the pair.

In the realm of forex trading, the EUR/USD pair remains a critical focus for investors. On December 27, this currency pair exhibits a subtle yet positive change, trading at 1.10447, marking a slight increase of 0.02%. The currency pair's stability is noteworthy, especially considering the current global economic landscape.

The technical analysis of EUR/USD reveals that the pair's pivot point is currently at $1.1044. Investors are closely monitoring resistance levels at $1.1061, $1.1106, and $1.1152. On the support side, key levels are at $1.0981, $1.0937, and $1.0891. These price points are significant for traders as they navigate the forex market's fluctuations.

The Relative Strength Index (RSI) for EUR/USD is at 66, hovering in the bullish sentiment territory without reaching overbought conditions. This suggests a moderately strong buying interest in the market. Furthermore, the pair's price is above the 50-Day Exponential Moving Average (EMA) of $1.0967, reinforcing a short-term bullish trend. This positioning above the EMA is a positive sign for potential upward momentum.

In terms of chart patterns, an upward trendline is supporting the ongoing uptrend in EUR/USD. This pattern indicates a potential continuation of bullish momentum in the short term.

Overall, the trend for EUR/USD appears to be bullish, particularly above the current EMA level. In the short term, it is anticipated that the pair may test its resistance levels. Traders considering entry into the EUR/USD market might contemplate a buy limit at 1.10272, with a take-profit target at 1.10830 and a stop loss at 1.09733.

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

EUR/USD - Trade Idea

Entry Price – Buy Limit 1.10272

Take Profit – 1.10830

Stop Loss – 1.09733

Risk to Reward – 1: 1

Profit & Loss Per Standard Lot = +$558/ -$539

Profit & Loss Per Mini Lot = +$55/ -$53



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