Currency pair Euro Dollar EUR/USD continues its movement within the context of growth development and forming a reversal pattern “Head and Shoulders”. Moving averages indicate the presence of a short-term bullish trend for the currency pair. Prices broke through the area between signal lines upwards, indicating pressure from Euro buyers and the potential continuation of price hikes already at current levels. As of the publication date, the Euro to Dollar exchange rate is 1.1402. In line with the Forex forecast for June 5, 2025, there should be an attempt to develop a rise in quotes and testing the resistance level located near the EUR/USD pair area around 1.1455. A subsequent price bounce lower and continuation of the Euro Dollar currency pair decline is anticipated. The potential target for such movement on FOREX would be below the 1.1165 level.
EUR/USD Forecast Euro Dollar for June 5, 2025
Additional signal in favor of the EUR/USD currency pair drop scenario tomorrow would be a bounce off the resistance line on the RSI indicator. A second signal for this variant is a rebound from the upper boundary of the reversal pattern “Head and Shoulders”. Cancellation of the price drop option for the Euro Dollar currency pair tomorrow will be strong growth and breaking through the level 1.1545. This indicates a break above the resistance area and continuation of the rise to the level 1.1735. To expect confirmation of the EUR/USD currency pair’s drop, waiting for a breach of the support region at the level 1.1325 would indicate breaking through the lower boundary of the “Head and Shoulders” reversal pattern and beginning implementation of the pattern with targets below.
EUR/USD Forecast Euro Dollar for June 5, 2025 anticipates an attempt to develop an upward movement of quotes with a test of the resistance level close to 1.1455. From where there is a consideration of a reversal in currency pair Euro Dollar quotes and an attempt at continuing the asset’s price drop on the market up to the mark of 1.1165. An additional signal for reducing the instrument on the Forex market will be a bounce off the resistance line on the Relative Strength Index (RSI). A rejection of the EUR/USD currency pair decline scenario would be a strong rise in quotes and penetration of the level of 1.1545. This indicates a break of the resistance zone and continuation of the currency pair’s movement upwards on Forex to the mark of 1.1735.
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