The Euro Dollar EUR/USD currency pair continues to move higher and is beginning to implement the bullish “Wolfe Wave” pattern. Moving averages indicate a short-term bearish trend for the pair. Prices are again testing the area between the signal lines downwards, 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 1.1629. As part of the Forex forecast for October 16, 2025, we expect an attempt to continue the decline and a test of the support level located near 1.1605 on the EUR/USD pair. Subsequently, an upward rebound in prices and the beginning of a bullish momentum in the Euro Dollar currency pair is expected. The potential target for such a move on FOREX is the area above 1.1765.
EUR/USD Forecast Euro Dollar for October 16, 2025
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 “Wolfe Wave” pattern. A price decline and a breakout of 1.1515 will cancel the upward scenario for the EUR/USD currency pair tomorrow. This will indicate a breakout of the support area and a continued decline to 1.1375. A breakout of the resistance area at 1.1685 should confirm the growth of the EUR/USD currency pair.
EUR/USD Forecast Euro Dollar for October 16, 2025 suggests an attempt at a bearish correction in currency quotes, testing support near 1.1605. This is where we should expect an upward rebound in the EUR/USD pair and an attempt at continued growth to 1.1765. A rebound from the support line on the relative strength indicator (RSI) will serve as an additional signal in favor of an uptrend in the Forex market. A decline in quotes and a breakout of 1.1515 will cancel out the EUR/USD uptrend. This will indicate a breakout of the support zone and a continued decline in the currency pair on Forex toward 1.1375.
