The Euro Dollar EUR/USD currency pair continues to move within a bearish 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 1.1812. As part of the Forex forecast for February 4, 2026, we expect an attempt to develop a bearish correction in quotes and a test of the support level, which is located near 1.1745 on the EUR/USD pair. Subsequently, an upward rebound in prices and the beginning of a bullish impulse in the Euro Dollar currency pair is expected. The potential target of such a movement on Forex is the area above 1.2015.
EUR/USD Forecast Euro Dollar for February 4, 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 upward scenario for the EUR/USD currency pair tomorrow. This will indicate a breakout of the support area and a continuation of the decline to 1.1475. Confirmation of the growth scenario for the EUR/USD currency pair should be expected with a breakout of the resistance area at 1.1925, which will indicate a breakout of the upper boundary of the downward correction channel.
EUR/USD Forecast Euro Dollar for February 4, 2026 suggests an attempt at a bearish correction in currency quotes, testing support near 1.1745. 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 1.2015. A rebound from the support line on the relative strength indicator (RSI) would serve as an additional signal. A decline in quotes and a breakout of 1.1655 would cancel out the EUR/USD upside. This will indicate a breakout of the support zone and a continued decline in the Forex currency pair toward 1.1475.
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