The Euro Dollar EUR/USD currency pair is ending the trading week on a downward trend, completing the formation of the bullish “Wolfe Wave” pattern. There is also potential for a “Head and Shoulders” reversal pattern to form. At the time of publication of the EUR/USD forecast for the week, the Euro to US Dollar exchange rate is 1.1581. Moving averages indicate a bullish trend for the pair. Prices have broken above the signal lines, indicating upward pressure from buyers of the European currency and likely continued growth from current levels. The Euro exchange rate forecast for the trading week anticipates an attempt at a bearish correction in the EUR/USD pair and a test of the support area near 1.1385. From this point, an upward rebound and continued growth in the Euro Dollar currency pair is expected this trading week. A potential upside target is above 1.2285.
EURUSD Weekly Forecast August 31 – September 4, 2026
An additional signal supporting the EUR/USD pair’s growth on the Forex market will be a test of the support line on the relative strength indicator (RSI). A second signal will be a rebound from the lower boundary of the bullish “Head and Shoulders” pattern. A strong rally and a breakout of 1.1145 would cancel out the upward trend in the EUR/USD pair during the current trading week (August 31 – September 4, 2026). This would indicate a breakout of the support area and a continuation of the pair’s decline below 1.0835. A breakout of the resistance area and a close above 1.1755 should confirm the pair’s upward trend within the bullish “Head and Shoulders” pattern.
EURUSD Weekly Forecast August 31 – September 4, 2026 suggests an attempt to develop a bearish correction and a test of the support area near 1.1385. From here, we should expect an upward price rebound and continued growth in the Forex pair above 1.2285. A test of the resistance line on the relative strength indicator (RSI) would be an additional signal in favor of an upside move. A decline and a breakout of 1.1145 would cancel out the EUR/USD rally. In this case, we should expect continued decline in the pair, with a potential target at 1.0835.
