The Euro Dollar currency pair EUR/USD continues to move within the framework of growth and the formation of a “Head and Shoulders” reversal pattern. Moving averages indicate a short-term upward trend for the pair. Prices have broken through the area between the signal lines upwards, indicating pressure from buyers of the European currency and a potential continuation of the currency pair’s growth from current levels. At the time of publication of the forecast, the euro-dollar exchange rate for today is 1.1747. As part of the Forex forecast for July 23, 2025, we can expect an attempt to develop an upward trend and a test of the resistance level, which is located on the EUR/USD pair near the 1.1775 area. Further, prices will rebound downward and the Euro-Dollar currency pair will continue to fall. The potential target for such a movement on FOREX is the area below the 1.1415 level.
EURUSD Forecast Euro Dollar for July 23, 2025
An additional signal in favor of the development of a decline scenario for the EUR/USD currency pair tomorrow will be a rebound from the resistance line on the RSI indicator. The second signal in favor of this option will be a rebound from the upper border of the “Head and Shoulders” reversal pattern. A strong rise and a breakout of the 1.1925 level tomorrow will cancel the option of a decline in the Euro-Dollar currency pair. This will indicate a breakout of the resistance area and a continuation of growth to the 1.2265 level. Confirmation of a decline in the EUR/USD currency pair should be expected with a breakout of the support area at 1.1515, which will indicate a breakout of the lower boundary of the “Head and Shoulders” reversal pattern and the beginning of the pattern’s implementation with targets below.
EURUSD Forecast Euro Dollar for July 23, 2025 suggests an attempt to develop a bullish correction in currency quotes with a test of the resistance level near 1.1775. From there, we can expect a downward rebound in the Euro-Dollar currency pair and an attempt to continue the decline in the asset’s value on the market to the 1.1415 mark. An auxiliary signal in favor of a decline in the instrument on the Forex market will be a rebound from the resistance line on the relative strength index (RSI). A strong rise in quotes and a breakout of the 1.1925 level will cancel the EUR/USD decline scenario. This will indicate a breakout of the resistance zone and a continuation of the currency pair’s growth on Forex to the 1.2265 mark.
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