The EUR/USD currency pair continues to move within the development of the correction and the 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 1.0913. Within the framework of the Forex forecast for March 20, 2025, we should expect an attempt to develop price growth and a test of the resistance level, which is located on the EUR/USD pair near the area of 1.0965. Further, a downward rebound in prices and a continued fall of the Euro Dollar currency pair. The potential target of such a movement on FOREX is the area below the level of 1.0685.
EUR/USD Forecast Euro Dollar for March 20, 2025
An additional signal in favor of the development of a bearish scenario on 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 “Wedge” reversal pattern. The cancellation of the option of falling quotes for the Euro Dollar currency pair tomorrow will be a strong growth and a breakout of the 1.1055 level. This will indicate a breakout of the resistance area and continued growth to the area at 1.1275. Confirmation of the fall in the EUR/USD currency pair should be expected with a breakout of the support area at 1.0865, which will indicate a breakout of the lower border of the “Wedge” pattern and the beginning of the pattern with targets below.
EUR/USD Forecast Euro Dollar for March 20, 2025 suggests an attempt to develop a bullish correction of the pair and a test of the resistance area near the level of 1.0965. From where it is worth considering the rebound in the price of the Euro Dollar currency pair downwards and an attempt to continue the fall of the asset on the market to the area below the level of 1.0685. An additional signal in favor of the decline of the instrument on the Forex market will be a test of the resistance line on the relative strength indicator (RSI). The cancellation of the option of the fall of the EUR/USD pair will be a strong increase in quotes and a breakout of the level of 1.1055. This will indicate a breakout of the resistance area and continued growth of the currency pair on Forex to the area above the level of 1.1275.
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