The EUR/USD currency pair concluded the past trading week showing an upward movement, settling near the 1.0393 mark. This price action suggests the pair is undergoing a correction phase while simultaneously forming a “Triangle” pattern on the charts. Analyzing moving averages, it’s evident that a bearish trend currently influences the pair. Recent price movements breaking below signal lines further emphasize seller pressure on the Euro, indicating a potential for continued decline from the present levels. For the upcoming trading week, market analysis points towards a likely attempt to push the EUR/USD value lower, aiming to test the support zone around 1.0205. It is anticipated that this level could trigger a bullish rebound, potentially leading to renewed growth for the Euro against the US Dollar during this trading week. The upward trajectory could target levels exceeding 1.0845.
Analyzing EUR/USD for the Week of February 17th – 21st, 2025
Further reinforcing the potential for a EUR/USD increase is the anticipated test of the support line on the Relative Strength Index (RSI). An additional signal for a bullish reversal is expected from a rebound off the lower boundary of the “Triangle” reversal pattern. However, this bullish outlook for the Euro Dollar pair for the trading week around February 17th to 21st, 2025, would be invalidated if the pair experiences a fall below and breaks through the 0.9995 level. Such a movement would signal a breakdown of the support area, potentially paving the way for a continued descent towards levels below 0.9675. Conversely, a decisive break above the resistance area, with price levels closing above 1.0575, would confirm a bullish trend. This scenario would indicate a breakout from the upper edge of the “Triangle” pattern, initiating a move towards higher targets.
EUR/USD Weekly Forecast February 17 — 21, 2025
In summary, the EUR/USD weekly forecast for February 17th – 21st, 2025, suggests an initial bearish correction, testing the support vicinity of 1.0205. A price rebound from this juncture is anticipated, potentially propelling the pair upwards in the Forex market, aiming for levels beyond 1.0845. The RSI support line test further strengthens this bullish possibility. Conversely, a drop and breach of the 0.9995 level would negate the expected Euro Dollar appreciation. In such a case, a continued downward trend could unfold, targeting a potential level of 0.9675.
