The EUR/USD pair is trading with a bullish bias, bouncing off above 1.0640 level to trade at 1.0770 on the daily timeframe. Technically, the EUR/USD pair seems ready to show a bullish correction until 1.0990, but we can’t take the risk of holding swing trade considering the volatile nature of the market these days.
So it’s better to open quick forex trading signals for 40/50 pips and then take profit to enter the next trade. Well, with that being said, I have opened a buying trade in the EUR/USD at 1.07839 with a stop loss of 1.07439 and a take profit of 1.08239.
EUR/USD – Daily Technical Levels
Pivot Point 1.0723
On the daily chart, the EUR/USD’s MACD is holding in the oversold zone, suggesting strong bullish correction chances. Alongside this, the EUR/USD pair has also formed a Doji candle around 1.0700, which is followed by a strong bearish trend.
Such a pattern shows indecision among traders and typically drives bullish reversals in the market. The EUR/USD may find support around 1.0700, while resistance is likely to be found around 1.0900 and 1.099 today.
EUR/USD Trading Signal
Entry Price: 1.07839
Stop Loss: 1.07439
Take Profit 1.08239
R/R Ratio 1:1