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

Daily Price Outlook

- EUR/USD maintains a bullish stance above $1.04324; immediate resistance is at $1.04971.

- The 50 EMA at $1.03986 offers dynamic support, reinforcing upward potential.

- A breakout above $1.04971 could drive the pair toward the next resistance at $1.05329.

EUR/USD is trading at $1.04517, up 0.35%, as the pair continues to exhibit a bullish bias above the pivot point of $1.04324.

The currency pair is facing immediate resistance at $1.04971, with the next key levels to watch at $1.05329 and $1.05682. A break above these resistance zones could reinforce bullish momentum, potentially pushing the pair toward higher levels.

On the downside, immediate support is situated at $1.03721, with further safety nets at $1.03415 and $1.03012. The 50-day Exponential Moving Average (EMA) at $1.03986 provides dynamic support, suggesting that the short-term trend remains favorable for the bulls.

Holding above this level could further cement the bullish outlook, encouraging buyers to test higher resistance levels.

From a technical perspective, the upward movement is supported by improving sentiment and technical strength, with the pair maintaining its position above key support levels.

However, if EUR/USD fails to hold above the pivot of $1.04324, it could invite selling pressure, potentially driving prices toward immediate support levels.

Traders should closely watch the resistance at $1.04971, as a sustained move above this threshold could confirm further bullish sentiment. Conversely, a break below the pivot may expose the pair to further downside risk.

EUR/USD - Trade Ideas

Entry Price – Buy Above 1.04323

Take Profit – 1.04961

Stop Loss – 1.04037

Risk to Reward – 1: 2.2

Profit & Loss Per Standard Lot = +$638/ -$286

Profit & Loss Per Mini Lot = +$63/ -$28