EUR/USD Daily Price Forecast – 24th April 2025

EUR/USD Daily Price Forecast – 24th April 2025

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Trade Summary:

EURUSD
Sell Stop @ 1.13352
TP @ 1.13090
SL @ 1.13621

EUR/USD Analysis

Chart Overview

The chart provided is a 1-hour (H1) timeframe for the EUR/USD currency pair. It includes key technical indicators such as moving averages and horizontal levels for Stop Loss (SL), Sell Stop, and Take Profit (TP). Here’s a detailed breakdown:

Key Observations

• Trend Analysis:

  • The pair is in a downtrend, as indicated by the price trading below the moving averages (red, yellow, and green lines).

  • The moving averages are sloping downward, confirming bearish momentum.

• Moving Averages:

  • Red Line (Long-Term Moving Average): The price is significantly below this line, indicating strong bearish sentiment.

  • Yellow Line (Medium-Term Moving Average): The price is also below this line, reinforcing the bearish trend.

  • Green Line (Short-Term Moving Average): The price is attempting to consolidate near this line, but the overall trend remains bearish.

• Support and Resistance Levels:

  • Resistance: The area around 1.13621 acts as a resistance level, as marked by the Stop Loss (SL).

  • Support: The area around 1.13352 is a key level, marked as the Sell Stop. A break below this level could trigger further downside movement.

  • Take Profit (TP): The target level is set at 1.13090, which aligns with a previous support zone.

• Price Action:

  • The price is consolidating near the Sell Stop level (1.13352), indicating indecision. A breakout below this level could lead to a continuation of the downtrend.

  • Recent candlesticks show smaller bodies, suggesting reduced volatility and a potential buildup for a breakout.

Trade Setup

• Sell Stop @ 1.13352:

  • A pending sell order is placed below the current price. This strategy aims to capitalize on a bearish breakout.

• Stop Loss @ 1.13621:

  • The SL is placed above the resistance level to limit losses in case of a reversal.

• Take Profit @ 1.13090:

  • The TP is set at a previous support level, providing a favorable risk-to-reward ratio.

Technical Indicators

• Moving Averages:

  • The alignment of the moving averages (short-term below medium-term, and medium-term below long-term) confirms a bearish trend.

• Momentum:

  • The lack of strong bullish candles suggests that sellers remain in control.

• Breakout Potential:

  • A break below 1.13352 could lead to increased selling pressure, targeting the TP level at 1.13090.

Conclusion

The EUR/USD pair is in a clear downtrend, with bearish momentum dominating the market. The trade setup aligns with the technical analysis, targeting a continuation of the downtrend. Traders should monitor the 1.13352 level closely for a breakout, while keeping an eye on the Stop Loss level at 1.13621 to manage risk effectively.

Recommended Lot Size

Trading is all about statistics.

While we can experience winning streaks, we can also suffer from losing streaks.

As such, we should always size each trade to withstand losing streaks (if any).

It’s widely recommended that you should not risk more than 2% of your capital for each trade.

We believe it’s easier to control your lot size by limiting your lot sizing to 0.01 for every $500 in your account.

So if you have $5000, then risk no more than 0.10 lot size per trade.

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If you spot a mistake especially when it comes to the price, please use common sense and check the chart.

We wish you good luck and good profit for this trade idea.

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