The Euro Dollar EUR/USD currency pair continues to move within a declining 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 in the currency pair from current levels. At the time of publication of the forecast, the Euro to Dollar exchange rate today is 1.1694. As part of the Forex forecast for January 7, 2026, we expect an attempt to continue the upward movement in quotes and a test of the resistance level located near 1.1730 on the EUR/USD pair. Subsequently, a downward rebound in prices and the beginning of a bearish impulse in the Euro Dollar currency pair is expected. The potential target for such a move on Forex is the area below 1.1535.
EUR/USD Forecast Euro Dollar for January 7, 2026
An additional signal in favor of a downward scenario for the EUR/USD currency pair tomorrow will be a rebound from the resistance line on the RSI indicator. A second signal in favor of this scenario will be a rebound from the upper boundary of the bearish channel. A strong price increase and a breakout of 1.1855 will cancel out the downward scenario for the EUR/USD currency pair tomorrow. This will indicate a breakout of the resistance area and continued price growth to 1.1985. Expect confirmation of the downward scenario for the EUR/USD currency pair with a breakout of the support area at 1.1645, which will indicate a breakout of the lower boundary of the bullish channel.
EUR/USD Forecast Euro Dollar for January 7, 2026 suggests an attempt to rally, testing resistance near 1.1765. This is where we should expect a downward rebound in the EUR/USD pair and a continued decline in the Forex market, targeting 1.1495. A rebound from the resistance line on the relative strength indicator (RSI) would serve as an additional signal. A strong rally and a breakout of 1.1845 would cancel out the EUR/USD downside scenario. This will indicate a breakout of the resistance zone and continued growth of the currency pair on Forex towards 1.1985.
