"EUR/USD Trading Plan: Key Support, Resistance & Entry Points

The EUR/USD pair has shown resilience below the 50% Fibonacci retracement level of the rally witnessed in February. The subsequent move above the 38.2% Fibonacci level suggests that the pullback from the 1.0525-1.0530 area has run its course. However, oscillators on the daily chart are yet to confirm a positive bias, warranting caution for bullish traders amid concerns about US President Donald Trump's tariff plans

Key Support and Resistance Levels

Support Levels:

1.0370: .
Resistance Levels:

1.0450: Fibonacci level.
1.0500: P
1.0525-1.0530:
Potential Breakout Points

Upside Breakout: A sustained move above the 1.0450 resistance level could lift spot prices to the 1.0500 psychological mark. Further strength beyond this level could challenge the 1.0525-1.0530 area,

Downside Breakout: A break below the 1.0432 support level could drag the EUR/USD pair to the 1.0330 region The downfall could extend further
Trade Setup

Based on the current technical landscape, a potential trade setup is as follows:

Entry Point: Buy at 1.0420.
Stop Loss: 1.0400.
Take Profit: 1.0530.


Fundamental Considerations

The EUR/USD pair will be in focus this week as the United States and Europe publish key economic numbers. Europe will release the preliminary consumer price index (CPI) data for February, with expectations of a slight decrease. Additionally, manufacturing and services PMI data from both regions will provide insights into economic performance.

Conclusion

The EUR/USD currency pair is at a critical juncture, with technical indicators suggesting potential bullish momentum, provided key resistance levels are breached. Traders should monitor fundamental developments, especially economic data releases and geopolitical events, as they can significantly influence market dynamics.


✅ #forex
✅ #forextrading
✅ #forexanalysis
✅ #forexsignals
✅ #fxtrading
✅ #trading
✅ #eurusd
✅ #eurusdforecast
✅ #eurusdanalysis
✅ #eurusdtrading
✅ #eurusdsetup
✅ #eurusdsignal
✅ #technicalanalysis
✅ #priceaction
✅ #supportandresistance
✅ #trendanalysis
✅ #chartpatterns
✅ #elliottwave
✅ #swingtrading
✅ #daytrading
✅ #scalping
✅ #riskmanagement
✅ #tradingpsychology
✅ #tradingview
✅ #forexcommunity
✅ #marketanalysis