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

Daily Price Outlook

- EUR/USD is trading at $1.08156, showing limited movement within a cautious market environment.

- Key pivot at $1.08186 aligns with the 50 EMA, indicating crucial support.

- Recommended sell below $1.08177, targeting $1.07990 with a stop loss at $1.08307.

The Euro (EUR) has displayed limited movement against the US Dollar (USD) in the latest session, currently trading at $1.08156. This price action comes amid a cautious market environment, with traders eyeing the pivot point at $1.08186, which coincides with the 50-period Exponential Moving Average (EMA).

This level serves as a crucial juncture, indicating potential support or resistance depending on the directional movement.

Immediate resistance for the EUR/USD pair is noted at $1.08307, with additional resistance levels at $1.08332 and $1.08453.

These levels represent significant barriers for any upward momentum. On the support side, immediate support is found at $1.08181, with subsequent support levels at $1.07990 and $1.07993, providing a safety net against downward pressure.

The Relative Strength Index (RSI) is currently at 46.96, suggesting a slightly bearish sentiment as it lies below the neutral 50 mark. This indicates that the pair might face selling pressure in the near term. The 50 EMA at $1.08186 acts as a critical support level, and a breach below this could trigger further downside movement.

Traders should consider entering a sell position below $1.08177, targeting a take profit at $1.07990 with a stop loss set at $1.08307.

EUR/USD - Trade Ideas

Entry Price – Sell Below 1.08177

Take Profit – 1.07990

Stop Loss – 1.08307

Risk to Reward – 1: 1.4

Profit & Loss Per Standard Lot = +$187/ -$130

Profit & Loss Per Mini Lot = +$18/ -$13