Daily Price Outlook

- Entry Price: Sell below $1.08616 to take advantage of potential bearish momentum.

- Take Profit: Aim to take profit at $1.08359 to capitalize on the downward movement.

- Stop Loss: Set a stop loss at $1.08725 to manage risk and protect against unexpected market reversals.

The EUR/USD pair is currently trading at $1.08538, showing no significant change from its previous close. The 4-hour chart highlights critical price levels and technical indicators, providing insights into potential market movements. The pivot point is set at $1.08614, serving as a key reference for traders.

Immediate resistance is noted at $1.08747, with subsequent levels at $1.08842 and $1.08951. These resistance levels are crucial for the bulls to overcome if they aim to push prices higher. On the downside, immediate support is observed at $1.08455, followed by $1.08355 and $1.08215.

These support levels will be vital for determining the market's next direction, especially if bearish sentiment prevails.

The Relative Strength Index (RSI) is currently at 44, indicating that the market is approaching oversold conditions, but not quite there yet. This level suggests that significant market movements could depend on breaking either the support or resistance levels.

Additionally, the 50-day Exponential Moving Average (EMA) stands at $1.08638, providing a dynamic support level that traders often use to gauge market trends.

The technical outlook for EUR/USD suggests cautious bearishness. An entry price below $1.08616 could present a selling opportunity, targeting $1.08359, with a stop loss set at $1.08725 to manage risk.

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

EUR/USD - Trade Ideas

Entry Price – Sell Below 1.08616

Take Profit – 1.08359

Stop Loss – 1.08725

Risk to Reward – 1: 2

Profit & Loss Per Standard Lot = +$257/ -$109

Profit & Loss Per Mini Lot = +$25/ -$10



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