Daily Price Outlook

- Bullish bias above $1.02179, with an upside target at $1.02917 and potential extensions toward $1.03516.

- Support at $1.01770 is key; a break below could trigger declines toward $1.01249 and $1.00826.

- 50-EMA at $1.04228 remains a strong resistance, capping broader bullish momentum unless decisively broken.

The EUR/USD pair is trading at $1.02379, up 1.14%, reflecting renewed bullish momentum after breaking past key technical levels. The currency pair is currently hovering just above its pivot point at $1.02375, a critical level that could dictate the near-term trend.

Despite this upside movement, EUR/USD remains below its 50-day Exponential Moving Average (EMA) at $1.04228, suggesting that the broader trend is still under pressure unless a decisive breakout occurs.

If bullish sentiment persists, the next immediate resistance lies at $1.02917, a key hurdle that, if breached, could open the door towards $1.03516 and potentially $1.04340.

On the flip side, failure to sustain above the pivot point may trigger a pullback toward immediate support at $1.01770. Further downside risks include targets at $1.01249 and $1.00826, where buying interest could re-emerge.

The technical setup favors a cautiously bullish outlook above $1.02179, with an entry suggested at this level. A take-profit target is set at $1.02917, capturing potential gains from continued upward momentum, while a stop-loss at $1.01685 helps limit downside risks.

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

EUR/USD - Trade Ideas

Entry Price – Buy Above 1.02179

Take Profit – 1.02917

Stop Loss – 1.01685

Risk to Reward – 1: 1.4

Profit & Loss Per Standard Lot = +$738/ -$494

Profit & Loss Per Mini Lot = +$73/ -$49

EUR/USD

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