The Euro Dollar EUR/USD currency pair is ending the trading week higher. At the time of publication of the EUR/USD forecast for the week, the Euro to US Dollar exchange rate is 1.1724. Moving averages indicate a bullish trend for the pair. Prices have broken the area between the signal lines, indicating pressure from buyers of the European currency and a likely continuation of the decline from current levels. As part of the Euro exchange rate forecast for the trading week, we expect an attempt at a bearish correction in the EUR/USD pair and a test of the support area near 1.1535. From here, an upward rebound and continued growth of the Euro Dollar currency pair is expected this trading week. The potential upside target is above 1.2295.
EUR/USD Weekly Forecast May 4 – 8, 2026
An additional signal supporting the EUR/USD pair’s growth on the Forex market will be a test of the support line on the relative strength indicator (RSI). A rebound from the lower boundary of the bullish channel will serve as a second signal. A strong rally and a breakout of 1.1145 would cancel out the upward trend in the EUR/USD pair during the current trading week, May 4-8, 2026. This would indicate a breakout of the support area and a continuation of the pair’s decline below 1.0905. A breakout of the resistance area and a close above 1.1825 should confirm the pair’s growth.
EUR/USD Weekly Forecast May 4 – 8, 2026 suggests an attempt to develop a bearish correction and a test of the support area near 1.1535. We should expect a price rebound and continued growth in the Forex pair above 1.2295. A test of the resistance line on the relative strength indicator (RSI) would be an additional signal in favor of an upside move. A decline and a breakout of 1.1145 would cancel out the EUR/USD rally. In this case, we should expect continued decline in the pair, with a potential target at 1.0905.
