The Euro Dollar EUR/USD currency pair continues to move within a growing and bullish channel. Moving averages indicate a short-term bearish trend for the pair. Prices have broken above the signal lines, indicating upward pressure from buyers 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 at 1.1974. As part of the Forex forecast for January 28, 2026, we expect an attempt at a bearish correction in quotes and a test of the support level located near 1.1905 on the EUR/USD pair. Subsequently, we expect an upward rebound in prices and the beginning of a bullish momentum in the Euro Dollar currency pair. A potential target for such a move on Forex is above 1.2145.
EUR/USD Forecast Euro Dollar for January 28, 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 1.1845 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 1.1625. Confirmation of the growth in the EUR/USD currency pair should be expected with a breakout of the resistance area at 1.2035, which will indicate a breakout of the upper boundary of the bullish channel, signaling growth by the channel’s width.
EUR/USD Forecast Euro Dollar for January 28, 2026 suggests an attempt at a correction in currency quotes with a test of the support level near 1.1905. We should expect an upward rebound in the Euro/Dollar currency pair and an attempt to continue the instrument’s growth on the Forex market, targeting 1.2145. A breakout from the support line on the relative strength indicator (RSI) would serve as an additional signal. A decline in the EUR/USD pair and a breakout of 1.1845 would cancel the upward trend. This would indicate a breakout of the support zone and a continued decline in the currency pair on Forex toward 1.1625.
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