The Euro Dollar EUR/USD currency pair continues to move within a developing correction and descending channel. Moving averages indicate a short-term bearish trend for the pair. Prices have broken below the area between the signal lines, indicating downward pressure from sellers of the European currency and a potential continuation of the decline in the currency pair from current levels. At the time of publication of the forecast, the Euro to Dollar exchange rate today is 1.1517. As part of the Forex forecast for March 17, 2026, we expect an attempt to develop a correction in quotes and a test of the support level, which is located near 1.1455 on the EUR/USD pair. Subsequently, an upward rebound in prices and continued growth momentum in the Euro Dollar currency pair are expected. The potential target for such a move on Forex is the area above 1.1705.
EUR/USD Forecast Euro Dollar for March 17, 2026
An additional signal in favor of a growth scenario for the EUR/USD currency pair tomorrow is the formation of a Head and Shoulders reversal pattern on the RSI indicator. A second signal in favor of this scenario would be a rebound from the lower boundary of the bearish channel. A price decline and a breakout of 1.1385 would cancel the upward scenario for the EUR/USD currency pair tomorrow. This would indicate a breakout of the support area and a continuation of the decline to 1.1265. A breakout of the resistance area at 1.1575 would confirm the growth of the EUR/USD currency pair, signaling a breakout of the upper boundary of the descending channel.
EUR/USD Forecast Euro Dollar for March 17, 2026 suggests an attempt at a bearish correction in currency quotes with a test of the support level near 1.1455. Where should we expect an upward rebound in the Euro/Dollar currency pair and an attempt to continue the instrument’s growth on the Forex market, targeting 1.1705? An additional signal supporting this scenario would be a rebound from the support line on the relative strength indicator (RSI). A decline in the EUR/USD pair and a breakout of 1.1385 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 1.1265.
