The Euro Dollar EUR/USD currency pair continues to move within a developing correction and bullish channel. Moving averages indicate a short-term uptrend for the pair. Prices are again testing the area between the signal lines, indicating pressure from buyers of the European currency and potential continued growth of the currency pair from current levels. At the time of publication of the forecast, the Euro to Dollar exchange rate today is 1.1781. As part of the Forex forecast for February 3, 2026, we expect an attempt at a bearish correction in quotes and a test of the support level located near 1.1735 on the EUR/USD pair. Subsequently, an upward rebound in prices and the beginning of a bullish impulse in the Euro Dollar currency pair are expected. The potential target of such a move on FOREX is the area above 1.2005.
EUR/USD Forecast Euro Dollar for February 3, 2026
An additional signal in favor of a growth scenario for the EUR/USD currency pair tomorrow will be a rebound from the support line on the RSI indicator. A second signal in favor of this scenario will be a rebound from the lower boundary of the bullish channel. A price decline and a breakout of 1.1655 will cancel the growth scenario for the EUR/USD currency pair tomorrow. This will indicate a breakout of the support area and a continuation of the price decline to 1.1475. Confirmation of the growth in the EUR/USD currency pair should be expected with a breakout of the resistance area at 1.1935, which will indicate a breakout of the upper boundary of the downward correction channel.
EUR/USD Forecast Euro Dollar for February 3, 2026 suggests an attempt at a bearish correction in currency quotes, testing support near 1.1735. 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 1.2005. A breakout from the support line on the relative strength indicator (RSI) will serve as an additional signal. A decline in the EUR/USD pair and a break of 1.1655 will cancel the upward trend. This will indicate a break of the support zone and a continued decline in the currency pair on Forex toward 1.1475.
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