The Euro Dollar EUR/USD currency pair continues to move within a developing correction and bullish channel. Moving averages indicate a short-term bullish trend for the pair. Prices have broken above the area between the signal lines, indicating growing pressure from buyers of the European currency and potential continued growth in the currency pair from current levels. At the time of publication of the forecast, the Euro to Dollar exchange rate today is 1.1650. As part of the Forex forecast for August 28, 2026, we expect an attempt at further growth and a test of the resistance level located near 1.1685 on the EUR/USD pair. Subsequently, a downward rebound is expected, and the downward momentum in the Euro Dollar currency pair will continue to develop. The potential target for such a move on FOREX is the area above 1.1515.
EUR/USD Forecast Euro Dollar for 28 August 2026
An additional signal in favor of a downward scenario for the EUR/USD currency pair tomorrow will be a rebound from the resistance line on the RSI indicator. A second signal in favor of this scenario will be a breakout of the lower boundary of the bullish channel. A strong price increase and a breakout of 1.1755 will cancel the downward scenario for the EUR/USD currency pair on August 28, 2026. This will indicate a breakout of local resistance and a continued rise to 1.1905. Confirmation of the decline in the EUR/USD currency pair should be expected with a breakout of the support level at 1.1625, which will signal a breakout of the lower boundary of the bullish channel.
EUR/USD Forecast Euro Dollar for 28 August 2026 suggests an attempt to continue the upward trend in the currency pair, testing the resistance level near 1.1685. We should expect a downward rebound in the EUR/USD currency pair and an attempt to continue the instrument’s decline on the Forex market, targeting 1.1515. An additional signal supporting this scenario would be a breakout from the resistance line on the relative strength indicator (RSI). A strong rally and a breakout of 1.1755 would invalidate the EUR/USD downside scenario. This would indicate a breakout of the resistance zone and continued growth of the currency pair on the Forex market toward 1.1905.
