Daily Price Outlook

- EUR/USD trades at $1.06972, down 0.16%, with RSI at 48.

- Immediate resistance at $1.0713 and support at $1.0686.

- Entry: Sell below $1.0700; Take Profit: $1.06725; Stop Loss: $1.07191.

The EUR/USD pair is trading at $1.06972, down 0.16% on the day. The 4-hour chart highlights critical price levels, with the pivot point set at $1.0700. Immediate resistance is located at $1.0713, followed by $1.0727 and $1.0745.

On the downside, immediate support is found at $1.0686, with further support levels at $1.0671 and $1.0655.

The Relative Strength Index (RSI) is currently at 48, indicating neutral momentum and suggesting that the market is neither overbought nor oversold. The 50-day Exponential Moving Average (EMA) is at $1.0707, acting as a key resistance level. The EUR/USD needs to break above this level to indicate further bullish momentum.

Traders should consider selling positions below the pivot point of $1.0700, with a target of the first support level at $1.06725. A break below this level could pave the way for further declines towards $1.0671 and $1.0655.

Conversely, if the pair moves above the immediate resistance at $1.0713, it could target the next resistance levels at $1.0727 and $1.0745.

In summary, while EUR/USD is experiencing a slight downturn, the overall outlook remains bearish below the pivot point of $1.0700.

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

EUR/USD - Trade Ideas

Entry Price – Sell Below 1.07000

Take Profit – 1.06725

Stop Loss – 1.07191

Risk to Reward – 1: 1.5

Profit & Loss Per Standard Lot = +$350/ -$191

Profit & Loss Per Mini Lot = +$27/ -$19



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