The Euro Dollar EUR/USD currency pair is ending the trading week on a downward trend. At the time of publication of the EUR/USD forecast for the week, the Euro to US Dollar exchange rate is 1.1518.
Strong US labor market data, which fueled expectations of further tightening by the Federal Reserve, placed additional pressure on the euro. Non-farm payrolls in the US rose by 172,000 in May, compared to a forecast of 85,000, supporting demand for the US dollar. Meanwhile, market participants are anticipating the European Central Bank’s June 11 meeting. Markets are almost entirely pricing in a 25 basis point interest rate hike. Eurozone inflation data, which accelerated to 3.2% year-on-year, also provides support for the euro. However, signs of a regional economic slowdown remain a negative factor, following revised GDP data showing a contraction in the eurozone economy in the first quarter of 2026.
Moving averages indicate a bullish trend for the pair. Prices have broken below the area between the signal lines, indicating downward pressure from sellers of the European currency and a likely continuation of the decline 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 1.1265. From this point, an upward rebound and continued growth of the Euro Dollar currency pair is expected this trading week. A potential upside target is above 1.2035.
EUR/USD Weekly Forecast June 8 – 12, 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 “Wolfe Wave” pattern. A strong rally and a breakout of 1.1045 would cancel out the upward trend in the EUR/USD pair during the current trading week (June 8-12, 2026). This would indicate a breakout of the support area and a continuation of the pair’s decline below 1.0755. A breakout of the resistance area and a close above 1.1785 should confirm the pair’s upward trend within the bullish “Wolfe Wave” pattern, indicating a breakout of the downward trendline.
EUR/USD Weekly Forecast June 8 – 12, 2026 suggests an attempt at a bearish correction and a test of the support area near 1.1265. From this point, we should expect an upward price rebound and continued growth in the Forex market above 1.2035. An additional signal in favor of an upside move would be a test of the resistance line on the relative strength indicator (RSI). A decline and a break of 1.1045 would cancel out the EUR/USD rally. In this case, we should expect continued decline with a potential target at 1.0755.
