EUR/USD forecast for today by Traders Union analysts
EUR/USD is the most popular pair for trading and investing in the Forex market. This is due to its highest liquidity that provides for low spreads and rare slippages. Traders Union analysts prepare the EUR/USD price prediction for today and the next several days so that you are always up to date on the latest trends. The forecast is based on the technical analysis of the Forex market.
EUR/USD returned to resistance after falling on U.S. GDP data
26.04.2024
The released GDP data showed a slowdown in U.S. economic growth, causing the euro to initially fall against the U.S. dollar to 1.0680 support, but soon it returned to 1.0735 resistance. The outlook for the pair, however, remains negative, its growth can be used for selling, but the decline in the U.S. PCE index may contribute to the breakout of resistance and a growth of the euro toward 1.0770-1.0790. An increase in the index could provoke a decline to 1.0680 at least.
EUR/USD is bought at 1.0680
25.04.2024
The euro was under pressure from the U.S. dollar yesterday, but despite strong data on U.S. durable goods orders, its decline is limited to 1.0680 support, and bulls are again testing 1.0705 resistance. So they still have a chance to break the current resistance and test 1.0730-1.0740. The loss of support will lead to a decline toward 1.0660-1.0640. Attempts to rise may be used for selling.
EUR/USD tries to develop a recovery
24.04.2024
Inspired by strong German statistics, the euro bulls managed to break 1.0690 resistance and test the level of 1.0710. The ECB is likely to start easing monetary policy before the Fed, which is unlikely to justify a large-scale growth of the euro, so the current recovery can be used for selling. Nevertheless, ruling out rebounds toward 1.0730-1.0750 is not advisable.
EUR/USD consolidates within range
23.04.2024
The euro remains under pressure against the U.S. dollar, stuck in a range between 1.0660/70 resistance and 1.0625/10 support. Thus, the pair is in a consolidation phase, where the risks of decline to 1.0600 prevail at least. Breaking resistance will lead to a growth toward 1.0690-1.0700, where the euro could be sold again.
EUR/USD the risks of decline still prevail
22.04.2024
Recovered once more from support at 1.0610, the euro climbed to 1.0675 resistance against the U.S. dollar, where it continues to face selling pressure. The outlook for the pair remains pessimistic, with bears likely to break support levels 1.0610-1.0600, paving the way for a decline toward 1.0500 in the medium term. Breaking resistance will trigger a growth toward 1.0700-1.0720.
EUR/USD sold on pullback
19.04.2024
Continuing its recovery against the U.S. dollar, the euro tested 1.0690 resistance, but, in line with our forecast, its recovery was used for selling, resulting in the euro dropping to support at 1.0645 at the moment. Thus, downside risks to 1.0600 prevail. Breaking resistance will lead to a growth toward 1.0710-1.0730.
Euro/US dollar retreated to 1.0665 resistance
18.04.2024
Euro bears failed to break support at 1.0605 against the U.S. dollar. Taking advantage of their weakness, bulls are attempting to break 1.0665 resistance. There is no improvement in the pair's situation at the moment, as attempts at growth can be used for sales and continued attempts to break support. Breaking resistance will lead to a growth toward 1.0710-1.0730.
Euro/US Dollar heading toward the support level of 1.0500?
17.04.2024
Yesterday, the euro tried to develop its recovery in the pair with the U.S. dollar but was once again sold, in this case from the resistance level of 1.0650, which caused the price to fall back toward the support level of 1.0610. Comments made by Fed Chair Jerome Powell, who expressed doubt that interest rates would soon be reduced, added negative sentiment to the pair and raised the probability of a decline toward the level of 1.0520-1.0500.
Euro/dollar risks further declines
16.04.2024
Possible divergence of monetary policies of the ECB and the Fed euro remains under selling pressure. Its growth attempt was limited by resistance near 1.0660 in the pair with the US dollar. The bears are currently testing support at 1.0625, which indicates high risks of its breakthrough and decline in the direction of 1.0580-1.0560. Passage of resistance will lead to growth in the direction of 1.0690-1.0700.
Euro/dollar ended the week with a decline
15.04.2024
The growth of inflation in the USA and the increased probability of the ECB lowering the interest rate in June had a negative impact on the dynamics of the euro in the pair with the US dollar. On Friday, the bears broke the support near the level of 1.0700 and tested the support of 1.0627. From current levels, the bulls may try to regain control of the situation, but growth attempts may be limited by the resistance at 1.0670-1.0700; breaking the support will lead to a decline towards 1.0550-1.0520.
Euro/dollar declines on ECB comments
12.04.2024
The European Central Bank, as expected, left the interest rate at the same level while signaling a possible decrease at the June meeting, which became a reason for further selling of the euro against the US dollar, against the background of which it declined to the support near the level of 1.0700. From the current levels, the bulls may try to regain control over the situation, but the recovery in the direction of 1.0760-1.0780 may be used for selling. A breakdown of 1.0700 will lead to a decline towards 1.0660.
Euro/dollar declines on ECB comments
12.04.2024
The European Central Bank, as expected, left the interest rate at the same level while signaling a possible decrease at the June meeting, which became a reason for further selling of the euro against the US dollar, against the background of which it declined to the support near the level of 1.0700. From the current levels, the bulls may try to regain control over the situation, but the recovery in the direction of 1.0760-1.0780 may be used for selling. A breakdown of 1.0700 will lead to a decline towards 1.0660.
Euro/dollar collapsed on US inflation data
11.04.2024
In anticipation of the US inflation data, the Euro traded above 1.0850 against the US Dollar until the release of better-than-forecast data triggered a sell-off in the pair and its decline to the support at 1.0730. Amid the increased chances that the ECB will lower the interest rate before the Fed, the Euro may remain under pressure, where the next nearest target of the bears may be the support around 1.0700. Today, the ECB will announce the rate decision, which is expected to remain unchanged, so Christine Lagarde's comments may affect the pair dynamics. Nevertheless, if the Euro rebounds towards 1.0800, it could be sold again.
Euro/dollar sold on the rise
10.04.2024
Yesterday, the Euro showed positive dynamics in the pair with the US dollar, but it was sold on the growth to the resistance near the level of 1.0880, which led to its decline to the support of 1.0850. Until the release of US inflation data today, the pair will continue to trade within the current range. On strong data, it is possible to break the support and decline towards 1.0800; on weak data - testing 1.0880-1.0900.
Euro/dollar is still in demand
09.04.2024
The euro bulls are in no hurry to give up and continue to buy it for the US dollar. Yesterday, the buying interest was noted near the level of 1.0825, against which the bulls tested the resistance at 1.0860. In anticipation of tomorrow's US inflation data, the pair may trade in the range between 1.0800 and 1.0880; the breakdown of support will lead to a decline towards 1.0770/60, and the breakdown of resistance - to growth to 1.0900.
Euro/dollar redeemed on the decline towards 1.0795
08.04.2024
The release of a strong US Non-Farm Payrolls report triggered the US Dollar growth, against which the Euro declined to support around 1.0795. However, the dollar's rise was not prolonged, and the euro soon returned to resistance at around 1.0845. The high probability that the ECB may lower the interest rate level ahead of the Fed may continue to pressure the euro, and bears may test Friday's low again; a break of the current resistance would lead to a rise towards 1.0870-1.0900.
Euro/dollar declines after growth
05.04.2024
The euro continued its growth against the US dollar yesterday and, having broken through the resistance at 1.0845, rose to 1.0875. Another Fed official spoke about the possibility of maintaining the current interest rate levels for a longer period than market participants expect, which contributed to the demand for the dollar and, hence, the euro's decline to support around 1.0835. As we predicted, the euro's recovery could continue to be used for selling, but should weaker labor market data be released today, the euro could move up towards the 1.0900 area.
Euro/dollar continues its recovery
04.04.2024
The Euro, having broken through the resistance around 1.0780, continued its recovery against the U.S. Dollar yesterday and tested 1.0833 at the moment. Jerome Powell confirmed his intention not to rush to lower the interest rate level, which, on the background of strong macroeconomic statistics in the U.S., can support the dollar, so the recovery of the euro can be used for selling, where the nearest target of the bears may be the support at 1.0800-1.0780; passing the current level will lead to growth to the resistance at 1.0850-1.0860, from which euro selling is also possible.
Euro/dollar recovers losses
03.04.2024
Yesterday, the euro's decline against the US dollar was stopped by buying interest near the level of 1.0730. Having broken through the local resistance at 1.0745, the bulls tested the resistance at 1.0775 but failed to break through it. From the current levels, it is possible to resume the decline and test 1.0740-1.0730; passing the resistance will lead to growth towards 1.0800-1.0820, where the pair can be sold again.
Euro/dollar continued its decline
02.04.2024
In full accordance with our forecast, the euro remains under selling pressure, on the background of which it, having broken the support around 1.0770 in the pair with the US dollar, fell to the level of 1.0730. The nearest target of the bears may be the support around 1.0720-1.0700, where some activation of the bulls is possible; the breakdown of the last level will strengthen the bearish pressure; the passage of 1.0750 will lead to growth up to 1.0770.
Euro/dollar ended the week below 1.0800
01.04.2024
On Good Friday, the activity of the currency market participants was expected to be low. The US PCE came out in line with forecasts, which caused a short-term decline in the US dollar, but on the growth in the pair, it again faced selling interest, against which the bulls failed to break through the resistance around 1.0800, and the weekly closing took place below this level. On the whole, sluggish moves in a low liquidity environment mean nothing, but the euro remains in a vulnerable position, at risk of breaking support near 1.0700 and continuing to decline towards 1.0730-1.0700; passing 1.0800 would lead to a rise towards 1.0830-1.0840.
Euro/dollar below 1.0800
29.03.2024
The euro remains under selling pressure, as bears broke the support around 1.0810-1.0800 in the US dollar pair and tested the support at 1.0775. A rebound to 1.0820 resistance is used for selling, and the euro trades below 1.0800 again, indicating downside risks towards 1.0750-1.0730; a return above 1.0810/20 could ease bearish pressure and allow bulls to test 1.0840-1.0860 resistance.
Euro/dollar remains under moderate pressure
28.03.2024
The euro is still under the pressure of sellers, but the support around 1.0810/00 in the pair with the US dollar continues to restrain the bears' onslaught, and the bulls, after the decline, are trying to bring it back above 1.0830. Volatility remains low, and at the moment, it is difficult to predict what can provoke its surge and the currency market's exit from the hibernation mode. In the short term, EUR/USD may continue to trade between 1.0800 and 1.0840/60.
Euro/dollar sold on a pullback
27.03.2024
As we predicted, the euro pullbacks continue to be used for selling for the US dollar. Thus, after testing the resistance around 1.0860, the euro declined to the support at 1.0830 for the moment. Its outlook remains negative, and next bears may test 1.0800 support; passing the 1.0860 resistance will lead to an upside towards 1.0880-1.0900. In the short term, no significant changes should be expected.
Euro/dollar recovers after the fall
26.03.2024
Having played off the events of last week, the participants of the financial markets again entered a sleepy state in which many currency pairs, including the euro/dollar, could not boast interesting movements. After finding support around the 1.0810 level, the euro rose to the resistance at 1.0840, where it is currently trading. Its recovery attempts can be used for selling, against which the bears may test the 1.0800 support again, and if it is broken, they will test the 1.0770-1.0750 support; passing the resistance will lead to a rise towards 1.0860-1.0880.
Euro/dollar ended the week with a fall to 1.0800
25.03.2024
Selling of the euro against the US dollar led to its fall to the support near the level of 1.0800. The loss of 1.0840 support and weekly close near 1.0800 indicates the risks of breaking the current support and developing a larger decline, where the next target of the bears could be the support near 1.0730-1.0700. A return above 1.0840 will increase the chances of testing 1.0870-1.0880.
Euro/dollar sold on growth
22.03.2024
As we predicted, the growth of the euro against the US dollar was used for selling, on the background of which it decreased to the support at 1.0860 after testing the resistance around 1.0940. A decline towards 1.0860-1.0835 can be used for buying and testing 1.0870/80; a breakdown of the latter level will lead to a decline towards 1.0800.
Euro/dollar rises on the Fed's decision
21.03.2024
The Fed left the interest rate level unchanged but announced its intention to lower it three times this year, which provoked the US dollar to sell, and the euro rose to 1.0921 at the moment. Breaking through the resistance at 1.0900-1.0910 suggests a rise to the resistance at 1.0940-1.0960, where bears may become active again. A loss of 1.0900 will lead to a decline towards 1.0880-1.0870.
Euro/dollar is trying to get back above 1.0865
20.03.2024
Staying under pressure from sellers, the Euro broke through the support around 1.0865 yesterday and tested the 1.0835 mark against the US dollar. The bulls are trying to bring the Euro back above 1.0865, which now acts as resistance. Still, until the US Federal Reserve announces the decision on the interest rate level and the press conference of its Chairman Jerome Powell, it is unlikely to be very successful. Passage of resistance will allow testing 1.0880-1.0890, which may be facilitated by the forecast of a rate cut at the next meeting; the intention to keep the rate at the current level for a longer period than analysts expect may contribute to a decline toward 1.0800.
Euro/dollar sold again near the 1.0900 level
19.03.2024
Yesterday, the euro again tried to break through the resistance near the level of 1.0900 in pair with the US dollar, but this level continued to succeed in its task, and the euro, after its testing, fell to the support of 1.0870. Thus, downside risks in the direction of 1.0850-1.0830 still prevail; passing 1.0890 will increase the chances of breaking 1.0900 and growth in the direction of 1.0920-1.0940.
EUR/USD chart
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Why is it important to know the EUR/USD price prediction?
According to Traders Union research, EUR/USD is among the top currency pairs to trade in the Forex market. The majority of successful traders surveyed by Traders Union earn their profit using the EUR/USD pair one way or the other, as this pair is suitable for all strategies. Traders appreciate their highest liquidity, which helps earn money on active strategies. Medium-term traders and investors can also use it actively in their strategies, as the EUR/USD volatility allows them to also earn money on long-term trends.
FAQ
1
What is the EUR/USD price prediction based on?
Traders Union analysts use various methods of chart analysis, including indicators, support and resistance levels, patterns, etc. Combinations of different signals and methods of technical analysts allow for making a more accurate EUR/USD price prediction.
2
What is technical analysis in the Forex market?
Technical analysis is a method of predicting the price of a financial instrument based on historical data. Technical analysis experts assume that traders are inclined to act in the same way under the same circumstances, which is reflected in the price chart. The analysts identify certain models on the chart to make the prediction.
3
Can the EUR/USD price prediction be trusted?
Traders Union price predictions are professional, but one must keep in mind that there is always a degree of uncertainty in the financial markets. For example, a release of important news can change the trend. Due to this, Traders Union analysts try to give not only the main forecast, but also an alternative scenario of events.
4
What impacts Euro price against the US dollar
The EUR/USD price moves under the influence of the following factors:
- Policies of the European Central Bank and the U.S. Fed;
- Dynamics of export-import transactions of the U.S. and the euro zone countries;
- Inflation in the euro zone and the U.S.;
- General trends in the global financial markets;
- Speculative trends in the Forex market.
- Policies of the European Central Bank and the U.S. Fed;
- Dynamics of export-import transactions of the U.S. and the euro zone countries;
- Inflation in the euro zone and the U.S.;
- General trends in the global financial markets;
- Speculative trends in the Forex market.