Daily Price Outlook

- EUR/USD at $1.08291, down 0.13%, facing resistance at $1.0877 and support at $1.0788.

- RSI at 47, 50 EMA at $1.0841; neutral to bearish sentiment prevails.

- Recommended sell below $1.08418, with take profit at $1.08009 and stop loss at $1.08624.

The EUR/USD pair is currently priced at $1.08291, down 0.13%, indicating a modest decline in market sentiment. The pivot point for today’s session is at $1.0843.

Immediate resistance levels are identified at $1.0877, $1.0895, and $1.0914. On the downside, immediate support is found at $1.0788, followed by $1.0761 and $1.0736.

The 50-day Exponential Moving Average (EMA) is currently at $1.0841, suggesting a potential resistance level very close to the current price. The Relative Strength Index (RSI) stands at 47, indicating that the market is in a neutral to slightly bearish territory.

For traders looking to capitalize on the current market conditions, an entry price is recommended below $1.08418, with a take profit target set at $1.08009. A stop loss should be placed at $1.08624 to manage risk effectively.

In conclusion, the EUR/USD is experiencing slight downward pressure, with technical indicators suggesting a cautious outlook.

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

EUR/USD - Trade Ideas

Entry Price – Sell Below 1.08418

Take Profit – 1.08009

Stop Loss – 1.08624

Risk to Reward – 1: 1.9

Profit & Loss Per Standard Lot = +$409/ -$206

Profit & Loss Per Mini Lot = +$40/ -$20



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