Daily Price Outlook

- EUR/USD's slight decline to 1.08734 reflects a cautious market atmosphere.

- Resistance and support levels map out potential pathways for the pair's next movements.

- RSI and EMA indicators hint at a pivotal moment, suggesting room for strategic entries.

On March 15, the EUR/USD pair witnessed a subtle decrement, registering a 0.09% fall to conclude at 1.08734. This minor shift underscores the currency pair's current predicament as it grapples with sustaining momentum amidst the ebbs and flows of market sentiment. Nudging slightly below the pivotal point of 1.0902, the EUR/USD now teeters at a critical juncture, poised for either resurgence or further decline based on forthcoming market cues.

The set resistance levels at 1.0930, escalating to 1.0966 and further stretching to 1.1010, mark significant hurdles that must be overcome to signal a shift towards a bullish outlook. Conversely, the terrain below is scaffolded by immediate support at 1.0842, extending down to 1.0800 and 1.0762, which stand ready to arrest any additional dips, safeguarding the pair from deeper retractions.

The trading environment is punctuated by the Relative Strength Index (RSI) dipping to 30, a marker possibly indicating the pair's drift into oversold territory. This, coupled with the pair's brush against the 50-day Exponential Moving Average (EMA) at 1.0904, paints a nuanced picture of the tug-of-war between buyers and sellers. The confluence of these technical indicators, alongside the pair's price action relative to the pivot point, encapsulates the delicate balance steering EUR/USD's short-term trajectory.

In navigating this landscape, a prudent strategy emerges: initiating sells below 1.08993 with an objective to lock in gains at 1.08420, while placing a stop loss at 1.09333 to curtail potential losses.

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

EUR/USD - Trade Ideas

Entry Price – Sell Below 1.08993

Take Profit – 1.08420

Stop Loss – 1.09333

Risk to Reward – 1: 1.6

Profit & Loss Per Standard Lot = +$573/ -$340

Profit & Loss Per Mini Lot = +$57/ -$34



24/7 live support, lightning fast withdrawals, guaranteed safe and reliable trading platforms with a true ECN broker.