EUR/USD Price Analysis and Trade Forecast: Daily Trading Signal

Daily Price Outlook

- EUR/USD trades at $1.08776, unchanged, with key resistance at $1.0915.

- RSI at 53 indicates balanced momentum; 50-Day EMA at $1.0853 provides support..

- Buy above $1.08599, target $1.09036, and stop loss at $1.08380 to manage risk.

The EUR/USD pair is currently trading at $1.08776, virtually unchanged at -0.00% on the four-hour chart. The currency pair is showing signs of consolidation as it navigates through a narrow trading range. Key price levels to monitor include a pivot point at $1.0860.

Immediate resistance is located at $1.0915, with further resistance levels at $1.0943 and $1.0974. On the downside, immediate support is observed at $1.0829, followed by supports at $1.0811 and $1.0790.

Technical indicators provide a balanced outlook. The Relative Strength Index (RSI) is currently at 53, suggesting that the pair is in neutral territory with a slight inclination towards bullish momentum.

The 50-Day Exponential Moving Average (EMA) is positioned at $1.0853, providing a key support level just below the current price.

In the current market scenario, the recommended entry price for a buy position is above $1.08599. Traders should set a take profit target at $1.09036, aligning with the immediate resistance level, and place a stop loss at $1.08380 to manage potential downside risks.

EUR/USD - Trade Ideas

Entry Price – Buy Above 1.08599

Take Profit – 1.09036

Stop Loss – 1.08380

Risk to Reward – 1: 2

Profit & Loss Per Standard Lot = +$437/ -$219

Profit & Loss Per Mini Lot = +$43/ -$21