The Euro Dollar EUR/USD currency pair continues to move within a growing trend and a descending channel. Despite the overall upward trend on the daily chart, there is every chance of seeing a bearish correction develop before the rally. Moving averages indicate a short-term bearish trend for the pair. Prices are again testing the area between the signal lines, indicating selling pressure on 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 today is 1.1808. As part of the Forex forecast for February 24, 2026, we expect an attempt at a bullish correction in quotes and a test of the resistance level located on the EUR/USD pair near 1.1825. Subsequently, a downward price rebound and continued downward momentum in the Euro Dollar currency pair are expected. A potential target for such a move on FOREX is the area below 1.1695.
EUR/USD Forecast Euro Dollar for February 24, 2026
An additional signal in favor of a downward scenario for the EUR/USD currency pair tomorrow will be a rebound from the bearish resistance line on the RSI indicator. A second signal in favor of this scenario will be a rebound from the upper boundary of the descending channel. A strong price increase and a breakout of 1.1875 would cancel the downward scenario for the EUR/USD currency pair tomorrow. This would indicate a breakout of the resistance area and continued price growth to 1.1995. Confirmation of the decline in the EUR/USD currency pair should be expected with a breakout of the support area at 1.1795, which would indicate a breakout of the lower boundary of the bullish correction channel.
EUR/USD Forecast Euro Dollar for February 24, 2026 suggests an attempt at a bullish correction in currency quotes, testing resistance near 1.1825. This is where we should expect a downward rebound in the EUR/USD pair and an attempt at continued decline in the Forex market, targeting 1.1695. A breakout from the resistance line on the relative strength indicator (RSI) will serve as an additional signal. A strong rally and a breakout of 1.1875 would cancel the downward trend for the EUR/USD pair. This would indicate a breakout of the resistance zone and continued growth in the Forex market towards 1.1995.
