Euro Dollar EUR/USD currency pair continues to move within the development of bearish correction and ascending channel. Moving averages indicate the presence of a short-term bullish trend on the pair. Prices are testing the area between the signal lines again, which indicates the pressure from the buyers of the European currency and the potential continuation of the growth of the currency pair quotes from the current levels. At the time of publication of the forecast the Euro to Dollar exchange rate for today is 1.1771. Within the Forex forecast for July 8, 2025 we should expect an attempt to develop a bearish correction of quotes and a test of the support level, which is located on the EUR/USD pair near the area of 1.1675. Further, the prices will rebound upwards and the Euro Dollar currency pair will continue to grow. The potential target of such a movement on FOREX is the area above the level of 1.1965.
EUR/USD Forecast Euro Dollar for July 8, 2025
An additional signal in favor of the upside scenario on the EUR/USD currency pair tomorrow will be a breakaway from the support line on the RSI indicator. The second signal in favor of this option will be a breakdown from the lower boundary of the bullish channel. Cancellation of the variant of growth of quotes of currency pair EUR/USD tomorrow will be a fall and breakdown of the level of 1.1565. This will indicate the breakdown of the support area and the continuation of the decline to the level of 1.1375. We should expect confirmation of the growth of the EUR/USD currency pair with the breakdown of the resistance area at the level of 1.1805.
EUR/USD Forecast Euro Dollar for July 8, 2025 suggests an attempt to develop a bearish correction of the currency quotes with a test of the support level near the level of 1.1675. From where we should expect a rebound of quotes upwards of the currency pair Euro Dollar and an attempt to continue the rise in the value of the asset on the market up to 1.1965. An auxiliary signal in favor of the rise of the instrument at the Forex market will be a rebound from the support line on the relative strength indicator (RSI). Cancellation of the growth option of EUR/USD pair will be a drop in quotes and breakdown of the level of 1.1565. This will indicate the breakdown of the support zone and the continuation of the currency pair fall to 1.1375.
