The EUR/USD currency pair is one of the most actively traded pairs in the forex market, attracting traders worldwide due to its liquidity and volatility. Intraday trading involves making short-term trades to capitalize on price movements within a single trading day. In this forecast, we provide insights and predictions for the EUR/USD pair, focusing on key technical levels and potential trading scenarios.
EUR/USD Intraday: Under Pressure
Pivot: 1.0895
Our Preference:
- Short positions below 1.0895 with targets at 1.0860 & 1.0840 in extension.
Alternative Scenario:
- Above 1.0895, look for further upside with 1.0915 & 1.0925 as targets.
Comment:
As long as the resistance at 1.0895 is not surpassed, the risk of a break below 1.0860 remains high.
Supports and Resistances
| Level | Type |
|---|---|
| 1.0925 | Resistance |
| 1.0915 | Resistance |
| 1.0895 | Resistance |
| 1.0863 | Last Price |
| 1.0860 | Support |
| 1.0840 | Support |
| 1.0825 | Support |
Summary
Today’s analysis indicates that the EUR/USD pair is under pressure. The pivot point at 1.0895 is crucial for determining the direction of the intraday trend. Traders should consider short positions below this level, targeting 1.0860 and 1.0840 for potential downward movement ” XAUUSD Trading: Today XAUUSD Buy or Sell” . If the price rises above 1.0895, it could open the way for further gains towards 1.0915 and 1.0925.
Disclaimer: Trading forex and other financial instruments involves risk and may not be suitable for all investors. Ensure you understand the risks and seek independent advice if necessary.