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 1.1800. As part of the Forex forecast for February 6, 2026, we expect an attempt at a bearish correction in quotes and a test of the support level located near 1.1755 on the EUR/USD pair. Subsequently, an upward rebound in prices and continued bullish momentum in the Euro Dollar currency pair are expected. The potential target for such a move on FOREX is the area above 1.1985.
EUR/USD Forecast Euro Dollar for February 6, 2026
An additional signal in favor of a bullish scenario for the EUR/USD currency pair tomorrow will be a rebound from the support line on the RSI indicator. It’s worth noting that there have already been several rebounds from this trend line. 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 1.1705 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 1.1545. A breakout of the resistance area at 1.1875 will confirm the upward trend for the EUR/USD currency pair, indicating a breakout of the upper boundary of the bearish correction channel.
EUR/USD Forecast Euro Dollar for February 6, 2026 suggests an attempt at a bearish correction in currency quotes, testing support near 1.1755. 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 1.1985. 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 in the EUR/USD pair. This will indicate a break of the support zone and a continued decline in the currency pair on Forex toward 1.1545.
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