The Euro Dollar EUR/USD currency pair continues to move within a developing bullish correction and forming a “Wedge” reversal pattern. Moving averages indicate a short-term bearish trend for the pair. Prices have broken below 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 1.1639. As part of the Forex forecast for March 5, 2026, we expect an attempt at a bullish correction in quotes and a test of the resistance level located near 1.1660 on the EUR/USD pair. Subsequently, a downward rebound in prices and continued downward momentum in the Euro Dollar currency pair is expected. The potential target for such a move on FOREX is the area below 1.1525.
EUR/USD Forecast Euro Dollar for March 5, 2026
An additional signal in favor of a downward scenario for the EUR/USD currency pair tomorrow will be a rebound from the downward trend line on the RSI indicator. A second signal in favor of this scenario will be a rebound from the upper boundary of the “Wedge” reversal pattern. A strong price increase and a breakout of 1.1765 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 1.1925. Confirmation of the downward scenario for the EUR/USD currency pair should be expected with a breakout of the support area at 1.1575, which will indicate a breakout of the lower boundary of the “Wedge” reversal pattern and the beginning of the pattern with targets below.
EUR/USD Forecast Euro Dollar for March 5, 2026 suggests an attempt at a bullish correction in currency quotes, testing resistance near 1.1660. This is where we should expect a downward rebound in the EUR/USD pair and an attempt at a continued decline in the instrument on the Forex market, targeting 1.1525. An additional signal supporting this scenario would be a breakout from the resistance line on the relative strength indicator (RSI). A strong rally and a breakout of 1.1765 would cancel out the EUR/USD downside scenario. This would indicate a breakout of the resistance zone and a continued rise in the currency pair on Forex to 1.1925.
