The EUR/USD currency pair continues to move within the correction and bearish channel. Moving averages indicate a short-term bearish trend for the pair. Prices are again testing the area between the signal lines, which indicates pressure from sellers of the European currency and a potential continuation of the decline in the currency pair’s quotes from current levels. At the time of publication of the forecast, the Euro to Dollar exchange rate for today is 1.1575. As part of the Forex forecast for August 6, 2025, we can expect an attempt at a bullish correction of quotes and a test of the resistance level, which is located on the EUR/USD pair near the 1.1590 area. Further, prices will rebound downward and the Euro-Dollar currency pair will continue to fall. The potential target for such a movement on FOREX is the area below the 1.1375 level.
EUR/USD Forecast Euro Dollar for August 6, 2025
An additional signal in favor of the development of a decline scenario for the EUR/USD currency pair tomorrow will be a rebound from the resistance line on the RSI indicator. The second signal in favor of this option will be a rebound from the upper border of the bearish channel. A strong rise and a breakout of the 1.1715 level will cancel the option of a decline in the Euro-Dollar currency pair tomorrow. This will indicate a breakout of the resistance area and a continuation of growth to the 1.1925 level. Confirmation of a decline in the EUR/USD currency pair should be expected with a breakout of the support area at 1.1495, which will indicate a breakout of the lower border of the bullish channel.
EUR/USD Forecast Euro Dollar for August 6, 2025 suggests an attempt at a bullish correction in currency quotes with a test of the resistance level near 1.1590. From there, we can expect a rebound in the Euro Dollar currency pair and an attempt to continue the decline in the asset’s value on the market to 1.1375. An auxiliary signal in favor of a decline in the instrument on the Forex market will be a rebound from the resistance line on the relative strength index (RSI). A strong rise in quotes and a breakout of the 1.1715 level will cancel the EUR/USD decline scenario. This will indicate a breakout of the resistance zone and a continuation of the currency pair’s growth on Forex to the 1.1925 mark.
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