The Euro Dollar EUR/USD currency pair continues to move within a growing and bullish channel. Moving averages indicate a short-term bullish trend for the pair. Prices have broken above the signal lines, indicating growing pressure from buyers of the European currency and potential continued growth in the currency pair from current levels. At the time of publication of this forecast, the Euro to Dollar exchange rate is currently at 1.1661. As part of the Forex forecast for August 20, 2026, we expect an attempt at a bearish correction in quotes and a test of the support level located near 1.1615 on the EUR/USD pair. Subsequently, we expect an upward rebound in prices and continued growth momentum in the Euro Dollar currency pair. A potential target for such a move on Forex is above 1.1795.
EURUSD Forecast Euro Dollar for 20 August 2026
An additional signal in favor of a bullish support trendline on the RSI indicator for the EUR/USD currency pair will be a rebound from the bullish support line tomorrow. A second signal in favor of this scenario will be a rebound from the lower boundary of the bullish channel. A price decline and a breakout of 1.1565 will cancel the upward trend for the EUR/USD currency pair on August 20, 2026. This will indicate a breakout of the lower boundary of the bullish channel and a continuation of the bearish price correction to 1.1435. A breakout of the resistance level at 1.1705 should confirm the upward trend for the EUR/USD currency pair.
EURUSD Forecast Euro Dollar for 20 August 2026 suggests an attempt to develop a bearish correction in currency quotes with a test of the support level near 1.1615. Where should we expect an upward rebound in the Euro/Dollar currency pair and an attempt to continue the instrument’s growth on the Forex market, targeting 1.1795? An additional signal supporting this scenario would be a breakout from the support line on the relative strength indicator (RSI). A decline in the EUR/USD pair and a breakout of 1.1565 would cancel the upward trend. This would indicate a breakout of the support zone and a continued decline in the currency pair on Forex toward 1.1435.
