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

Daily Price Outlook

- EUR/USD holds above $1.07640, maintaining a cautiously bullish outlook ahead of key U.S. jobs data.

- A breakout above $1.08521 could drive the pair toward $1.09022 and $1.09497, reinforcing upside potential.

- Failure to sustain above $1.07640 may expose EUR/USD to a decline toward $1.07100 and $1.06579.

The EUR/USD pair is trading at $1.08178, holding steady as markets digest economic data and central bank signals. The pair remains above its pivot point at $1.07640, indicating near-term bullish sentiment, though gains are limited by key resistance at $1.08521.

A sustained breakout above this level could push the pair toward $1.09022, with the next target at $1.09497.

On the downside, immediate support is seen at $1.07100, with deeper levels at $1.06579 and $1.06049. A move below the pivot point may weaken sentiment, triggering a shift toward a bearish outlook.

The 50-day EMA at $1.06489 is acting as dynamic support, reinforcing buyers' control. The euro’s performance remains tied to expectations surrounding the Federal Reserve and European Central Bank (ECB) policy outlook.

A dovish Fed stance could weaken the dollar, providing support to EUR/USD, while stronger U.S. labor market data may strengthen the greenback, capping further gains in the euro.

Looking ahead, traders will focus on Friday’s U.S. Nonfarm Payrolls (NFP) report, which could set the tone for the Federal Reserve’s next move.

If job growth exceeds expectations, it may fuel speculation of delayed rate cuts, potentially driving EUR/USD lower. Conversely, a weaker labor market print could reinforce Fed easing bets, pushing the pair higher.

A decisive break above $1.08521 would confirm bullish momentum, while a drop below $1.07640 could trigger further downside pressure.

EUR/USD - Trade Ideas

Entry Price – Buy Above 1.08049

Take Profit – 1.08900

Stop Loss – 1.07379

Risk to Reward – 1: 1.2

Profit & Loss Per Standard Lot = +$851/ -$670

Profit & Loss Per Mini Lot = +$85/ -$67