The EUR/USD currency pair continues to move within the development of a bearish correction 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 1.1478. As part of the Forex forecast for April 23, 2025, we should expect an attempt to develop a bearish price correction and a test of the support level, which is located on the EUR/USD pair near the 1.1435 area. Next, an upward price rebound and continued growth of the Euro Dollar currency pair. The potential target of such a movement on FOREX is the area above the 1.1775 level.
EUR/USD Forecast Euro Dollar for April 23, 2025
An additional signal in favor of the development of a bullish scenario on the EUR/USD currency pair tomorrow will be a rebound from the ascending trend 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 1.1345 level. This will indicate a breakout of the support area and a continuation of the fall to the area at the level of 1.1135. Confirmation of the rise in the EUR/USD currency pair should be expected with a breakout of the resistance area at the level of 1.1525.
EUR/USD Forecast Euro Dollar for April 23, 2025 suggests an attempt to develop a bearish correction of the pair and a test of the support area near the level of 1.1435. Where should we consider an upward rebound in the price of the Euro Dollar currency pair and an attempt to continue the growth of the asset on the market to the area above the level of 1.1775. 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 growth option for the EUR/USD pair will be a drop in quotes and a breakout of the 1.1345 level. 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 1.1135 level.
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