Daily Price Outlook

    The EUR/USD pair experienced a slight decline of 0.04%, positioning the price at 1.09358 on March 11. This subtle movement reflects the currency pair's current stability within a narrowly defined trading range. On the 4-hour chart, the technical landscape highlights a pivot point at 1.09812, indicating the critical level for short-term price direction. Resistance is mapped out at successive levels of 1.10323, 1.10802, and 1.11369, outlining potential hurdles for upward price movements. Conversely, support levels are placed at 1.09149, 1.08431, and 1.07940, suggesting zones where the market may find a floor to rally.

    The Relative Strength Index (RSI) at 61 nudges towards the upper end of the neutral range, hinting at a slightly bullish momentum, but without veering into overbought territory. The 50-Day Exponential Moving Average (EMA) at 1.08825 further reinforces the bullish sentiment, as the current price remains above this indicator, suggesting underlying strength in the upward trend.

    Considering these factors, a strategic entry for a long position is recommended above 1.09253, with an aim for a take-profit at 1.09852, and setting a stop-loss at 1.08885 to protect against potential downturns.

    EUR/USD - Trade Ideas

    Entry Price – Buy Above 1.09253

    Take Profit – 1.09852

    Stop Loss – 1.08885

    Risk to Reward – 1: 1.6

    Profit & Loss Per Standard Lot = +$600/ -$368

    Profit & Loss Per Mini Lot = +$60/ -$36



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