Daily Price Outlook

- EUR/USD remains under its pivotal level at $1.0800, suggesting continued bearish bias.

- Resistance near $1.0808 and higher could cap rallies unless overcome by strong bullish drivers.

- Support levels below current prices may provide rebound opportunities if tested.

Today's technical analysis for EUR/USD reflects a minor downtrend with the currency pair down by 0.07%, trading at $1.07458. This subtle movement comes amidst fluctuating market sentiments and is framed by critical technical levels that might serve as catalysts for future price actions.

The EUR/USD is currently operating below its pivot point set at $1.0800, indicating a bearish sentiment in the near term. Key resistance levels for the day are marked at $1.0808, $1.0839, and $1.0883. These thresholds could restrict upward price movements unless a significant market driver shifts the trading sentiment.

Conversely, the currency finds immediate support at $1.0686, with further cushions at $1.0656 and $1.0626, which could be tested if the bearish pressure continues.

Technical indicators show a Relative Strength Index (RSI) of 49, hovering near the midpoint, which suggests a neutral market without clear directional bias. The 50-Day Exponential Moving Average (EMA) at $1.0727 slightly below the current price supports this neutral to slightly bearish stance.

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

EUR/USD - Trade Ideas

Entry Price – Buy Above 1.07289

Take Profit – 1.08002

Stop Loss – 1.06925

Risk to Reward – 1: 1.9

Profit & Loss Per Standard Lot = +$713/ -$364

Profit & Loss Per Mini Lot = +$71/ -$36



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