The Euro Dollar EUR/USD currency pair continues to move within a developing correction and bullish 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 further decline in the currency pair from current levels. At the time of publication of the forecast, the Euro to Dollar exchange rate today is 1.1610. As part of the Forex forecast for October 23, 2025, we expect an attempt to continue the decline and a test of the support level located near 1.1585 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 of such a move on FOREX is the area above 1.1785.
EUR/USD Forecast Euro Dollar for October 23, 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 Head and Shoulders reversal pattern. A price decline and a breakout of 1.1475 will cancel the upward trend for the EUR/USD currency pair tomorrow. This will indicate a breakout of the support area and a continuation of the decline to 1.1365. Expect confirmation of the growth scenario for the EUR/USD currency pair with a breakout of the resistance area at 1.1725, which will indicate a breakout of the upper boundary of the Head and Shoulders reversal pattern and the beginning of the pattern with targets above. Important news from Europe and the US that could impact the EUR/USD exchange rate includes: United States Initial Jobless Claims and United States Existing Home Sales.
EUR/USD Forecast Euro Dollar for October 23, 2025 suggests an attempt at a bearish correction in currency quotes, testing support near 1.1585. This is where we should expect an upward rebound in the EUR/USD pair and an attempt at continued growth in the asset’s value to 1.1785. 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 the EUR/USD pair and a breakout of 1.1475 would cancel the upward trend. This would indicate a breakout of the support zone and a continued decline in the currency pair on Forex to 1.1365.
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