The EUR/USD currency pair continues to move within the development of growth and a bullish channel. The moving averages indicate the presence of a short-term bullish 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 1.0537. Within the framework of the Forex forecast for March 5, 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 1.0495 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 1.0735 level.
EUR/USD forecast Euro Dollar for March 5, 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 trend line on the RSI indicator. The second signal in favor of this option will be a rebound from the upper border of the descending channel. The cancellation of the growth option for the Euro Dollar currency pair tomorrow will be a fall and a breakout of the 1.0385 level. This will indicate a breakout of the support area and a continuation of the fall to the area at the level of 1.0265. It is worth expecting confirmation of growth for the EUR/USD currency pair with a breakout of the resistance area at the level of 1.0575.
EUR/USD forecast Euro Dollar for March 5, 2025 suggests an attempt to continue the decline of the pair and a test of the support area near the level of 1.0495. Where should we consider the rebound of the Euro Dollar currency pair upwards and an attempt to continue the growth of the asset on the market to the area above the level of 1.0735. An additional signal in favor of the rise of the instrument 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 level of 1.0385. 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 level of 1.0265.
Looking for the Best Forex Broker? We trade at RoboForex. You can receive a rebates from each trade when registering using our partner link
