The EUR/USD currency pair continues to move within the framework of the development of growth and a bullish channel. The moving averages indicate the presence of a short-term upward trend for the pair. Prices have broken through the area between the signal lines upwards, which indicates pressure from buyers of the European currency and a potential continuation of the growth of the currency pair quotes from the current levels. At the time of publication of the forecast, the Euro to Dollar exchange rate for today is 1.1388. As part of the Forex forecast for April 16, 2025, we should expect an attempt to develop a price decline and a test of the support level, which is located on the EUR/USD pair near the area of 1.1265. Next, a rebound in prices upwards and continued growth of the Euro Dollar currency pair. The potential target of such a movement on FOREX is the area above the level of 1.1605.
EUR/USD Forecast Euro Dollar for April 16, 2025
An additional signal in favor of the development of the bullish scenario on the EUR/USD currency pair tomorrow will be a rebound from the support line on the RSI indicator. The second signal in favor of this option will be a rebound from the lower border of the bullish channel. The cancellation of the growth option for the Euro Dollar currency pair tomorrow will be a fall and a breakout of the 1.1205 level. This will indicate a breakout of the support area and a continuation of the fall to the area at the level of 1.0965. Confirmation of the rise in the EUR/USD currency pair should be expected with a breakout of the resistance area at the level of 1.1435.
EUR/USD Forecast Euro Dollar for April 16, 2025 suggests an attempt to continue the decline of the pair and a test of the support area near the level of 1.1265. Where should we consider the rebound of the Euro/Dollar currency pair upwards and an attempt to continue the asset’s growth on the market to the area above the level of 1.1605. An additional signal in favor of the instrument’s rise on the Forex market will be a test of the support line on the relative strength indicator (RSI). The cancellation of the EUR/USD growth option will be a drop in quotes and a breakout of the level of 1.1205. This will indicate a breakout of the support area and a continuation of the fall of the currency pair on Forex to the area below the level of 1.0965.
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