The EUR/USD currency pair is ending the trading week within a corrective phase and a downward-sloping channel. At the time of this forecast, the EUR/USD exchange rate stands at 1.1245. While moving averages suggest an underlying bullish trend, the price has broken below the area between the signal lines, indicating selling pressure on the Euro and the likelihood of a continued decline from current levels. For the coming trading week, we anticipate a bearish correction, with a potential test of the support area near 1.1135. From there, we expect a rebound and a resumption of the pair’s upward movement, with a potential target above the 1.1725 level.
EUR/USD Weekly Forecast October 19 – 23, 2026
An additional signal supporting a rise in the EUR/USD pair is a test of the support line on the Relative Strength Index (RSI) indicator, alongside a potential rebound from the lower boundary of the bearish channel. The bullish scenario for the week of October 19–23, 2026, would be invalidated if the price falls and breaks below the 1.1005 level; such a move would signal a breach of the support zone and likely lead to a further decline toward the area below 1.0745. Conversely, a breakout above the resistance zone—confirmed by a close above 1.1305—would signal a breach of the local resistance level.
EUR/USD Weekly Forecast October 19 – 23, 2026 suggests an attempt at a bearish correction, with a test of the support area near the 1.1135 level. From there, a rebound is expected, leading to a continuation of the pair’s upward movement toward the area above 1.1725. An additional signal supporting this rise would be a test of the resistance line on the Relative Strength Index (RSI) indicator. The bullish scenario would be invalidated if the price falls and breaks below the 1.1005 level; in that case, a continued decline toward a potential target of 1.0745 should be expected.
