Germany’s GDP in the fourth quarter of 2024 decreased by 0.2% compared to the previous three months, matching preliminary data and expert forecasts. Consumer spending rose by 0.1%, government spending by 0.4%, and gross fixed capital investment also increased by 0.4%. On an annual basis, the economy contracted by 0.2% following a 0.3% decline in 2023. Investors are expecting the new government to introduce growth-stimulating measures, including reducing energy costs, investing in infrastructure, and abandoning the debt brake.
EUR/USD forecast Euro Dollar for February 26, 2025
The EUR/USD currency pair continues to move within the growth development and bullish channel. Moving averages indicate a short-term upward trend for the pair. Prices broke through the area between the signal lines upwards, indicating pressure from buyers of the European currency and the potential continuation of the pair’s growth from current levels. At the time of the forecast publication, the Euro to US Dollar exchange rate today is 1.0472. As part of the Forex forecast for February 26, 2025, an attempt to develop a bearish price correction and test the support level located near the 1.0395 area on the EUR/USD pair is expected. Then, a price rebound upwards and the continuation of the Euro Dollar currency pair’s growth are anticipated. The potential target for such a move on FOREX is the area above the 1.0715 level.
An additional signal in favor of the bullish scenario development for the EUR/USD currency pair tomorrow will be a rebound from the upward trend line on the RSI indicator. The second signal in favor of this scenario will be a bounce from the lower boundary of the bullish channel. The cancellation of the Euro Dollar pair’s growth option tomorrow will be a decline and a breakdown of the 1.0345 level. This will indicate a breakdown of the support area and a continuation of the decline to the area at the 1.0165 level.
EUR/USD forecast Euro Dollar for February 26, 2025 suggests an attempt to develop a bearish correction for the pair and test the support area near the 1.0395 level. From there, a rebound of the Euro Dollar currency pair’s price upwards and an attempt to continue the asset’s growth in the market to the area above the 1.0715 level are expected. 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 Index (RSI). The cancellation of the EUR/USD pair’s growth scenario will be a drop in quotes and a breakdown of the 1.0345 level. This will indicate a breakdown of the support area and a continuation of the currency pair’s decline on Forex to an area below the 1.0165 level.
