The Euro Dollar EUR/USD currency pair continues to move as it continues to decline and form a Double Bottom reversal pattern. Moving averages indicate a short-term uptrend for the pair. Prices have broken below the signal lines, indicating downward pressure from sellers of the European currency and potential continued growth in the currency pair from current levels. At the time of publication of this forecast, the Euro to Dollar exchange rate is currently 1.1771. As part of the Forex forecast for February 20, 2026, we expect an attempt at a bearish correction in quotes and a test of the support level located near 1.1765 on the EUR/USD pair. Subsequently, we expect an upward rebound in prices and continued bullish momentum in the Euro Dollar currency pair. A potential target for such a move on FOREX is above 1.1915.
EUR/USD Forecast Euro Dollar for February 20, 2026
An additional signal in favor of a bullish support trendline on the EUR/USD currency pair tomorrow will be a rebound from the bullish support line on the RSI indicator. A second signal in favor of this scenario will be a rebound from the lower boundary of the Double Bottom reversal pattern. A price decline and a breakout of 1.1705 will cancel out the upward trend in the EUR/USD tomorrow. This will indicate a breakout of the support area and a continued decline to 1.1465. A breakout of the resistance area at 1.1845 will confirm the upward trend in the EUR/USD currency pair, signaling a breakout of the upper boundary of the downward correction channel.
EUR/USD Forecast Euro Dollar for February 20, 2026 suggests an attempt at a bearish correction in currency quotes, testing support near 1.1765. This is where we should expect an upward rebound in the EUR/USD pair and an attempt at continued growth in the Forex market, targeting 1.1915. A breakout from the support line on the relative strength indicator (RSI) will serve as an additional signal. A decline in quotes and a break of 1.1705 will cancel the upward trend for the EUR/USD pair. This will indicate a break of the support zone and a continued decline in the currency pair on Forex toward 1.1465.
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