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

Daily Price Outlook

- EUR/USD holding above 50-day EMA ($1.07483), maintaining an overall bullish bias.

- Breakout above $1.08855 could open the door for $1.09312 and $1.09686.

- A drop below $1.07658 could trigger declines toward $1.07164 and $1.06579.

The EUR/USD pair remains in a tight consolidation phase, hovering around $1.08338 after a recent pullback from its highs. The pair is struggling to gain significant bullish traction but remains supported above the 50-day EMA at $1.07483, reinforcing the broader uptrend.

On the upside, the first key resistance is at $1.08855, which aligns with recent highs. A decisive breakout above this level could trigger further gains toward $1.09312, followed by $1.09686, where sellers may emerge. However, failure to clear these levels could lead to renewed selling pressure.

On the downside, immediate support lies at $1.07658, aligning with last week's lows. If this level gives way, EUR/USD could retest the next key supports at $1.07164 and $1.06579. A break below these zones would expose the pair to further downside risk, potentially targeting the 200-day EMA near $1.0562.

Fundamentally, traders remain cautious ahead of key U.S. inflation data, which could influence Federal Reserve rate expectations.

A stronger-than-expected CPI report may bolster the U.S. dollar, pressuring EUR/USD lower, while weaker data could fuel expectations of an earlier Fed rate cut, supporting further upside in the pair.

EUR/USD - Trade Ideas

Entry Price – Buy Above 1.08266

Take Profit – 1.08960

Stop Loss – 1.07867

Risk to Reward – 1: 1.7

Profit & Loss Per Standard Lot = +$694/ -$399

Profit & Loss Per Mini Lot = +$69/ -$39